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Highlights Economic Survey 2016

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Offline Sora

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Highlights Economic Survey 2016
« on: February 27, 2016, 05:03:55 PM »

Highlights Economic Survey 2016 - Economic survey 2016 data are presented before the announcement of Union Budget.The Major highlights sector wise as per the Economic Survey announced for Year 2016 are :

1. India expects its economy to grow 7-7.5% in the fiscal year to March 2017

2. Projected India to grow 8% in the next couple of years.

3.  FISCAL DEFICIT

* In Year 2015-16 fiscal deficit at 3.9% of GDP

* Expected GDP for 2016-17 expected to be 8%

INFLATION

* Expected CPI inflation to be approx  4.5 to 5% in 2016-17

* Expect Inflation target to be 5% by March 2017

CURRENT ACCOUNT DEFICIT

* 2016/17 current account deficit seen around 1-1.5% of GDP

CURRENCY

* Vair Value for Rupees , monetary relaxation
* Gradual depreciation in rupee can be allowed if capital inflows are weak

TAXES

*  Economic survey proposes widening of tax net to 20%

* Tax revenue expected to be higher than previous FY

* Economic survey reports shows minimum chances of raising Tax exemption thresholds

BANKING

* The estimated Capital requirement by Public Sector Banks are expected to be Rs 1.8 trillion by 2018-19, when the Basel III would be implemented.


 

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