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Economic Survey 2015-16: Foreign exchange reserves have increased to $349.6 bn

BT Online     February 26, 2016

 


  • 7th Pay Commission recommendations not likely to destabilize prices, to have little impact on inflation
  • Agriculture sector needs a transformation to ensure sustainable livelihoods for farmers
  • Percentage share of horticulture output in agriculture is more than 33%
  • Informal sector has created jobs and kept unemployment low
  • Ease liquidity to enable pass through to market rates. Ease repo rate due to benign inflation outlook
  • Fiscal policy must balance stability (declining deficit, debt) while insuring against growth slowdown
  • Twin balance sheet challenge needs 4Rs: Recognition, Recapitalisation(RBI can help), Resolution and Reform
  • Wide range due to external and monsoon uncertainties. Inflation forecast at 4.5-5%
  • Current account deficit as a proportion of GDP likely to be in the low range of 1% to 1.5%
  • Growth in the services sector moderated slightly, but still remains robust
  • Amid gloomy international economic landscape, India stands as a haven of stability
  • Foreign exchange reserves have increased to $349.6 bn (Jan-2016)
  • Over 8 per cent growth seen in next couple of years
  • Low inflation has taken hold and confidence in price stability has improved
  • Services continue to be key driver; expected to be 9.2% in 2015-16
  • GDP growth rate for 2015-16 to be in the range of 7% to 7.75 %
  • Two days before Union Budget 2016-17, Chief Economic Advisor Arvind Subramanian, will present his second Economic Survey today.
  • The economic survey is prepared by the Chief Economic Advisor
  • The document reviews the developments in the economy over the previous 12 months, summarizes the performance on major development programmes, and highlights the policy initiatives of the government and the prospects of the economy in the short-to-medium term.
  • Meanwhile, FM Arun Jaitley's meeting with the economists just two days ahead of the Budget, which had generated a lot of curiosity, has been cancelled
  • The meeting with the economists on Saturday, ahead of the Budget presentation for 2016-17, was confirmed by Ministry spokesperson who described it as one to explain "economic analysis of macro-economic situation" after the presentation of Economic Survey
  • A government spokesperson had earlier in the day said: "CEA may brief the participants about the economic situation both global and domestic and may also brief about the economic analysis of micro and macro-economic situation made in the Economic Survey 2015-16  and the likely state of economy in the coming year and the steps to deal with the same"

 

 

 


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