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Despite Difficult Global Environment India is Likely to be the Fastest Growing Major Economy in the World in 2016 says Economic Survey 2015-16

Budget - Dated:- 26-2-2016 - Addressing the Twin Balance Sheet Challenge, Economic Survey Emphasizes on Recalibration of Growth Expectations; La Nina To Positively Impact the Agriculture Economic Survey 2015-16 tabled in Parliament here today by the Union Finance Minister Shri Arun Jaitley stresses that India s economy is stable and it continues to be the land of opportunity. Economic Survey states that India s macro-economy is robust, and it is likely to be the fastest growing major economy in .....

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rowth rate of GDP at constant market prices is projected to increase to 7.6% in 2015-16 from 7.2% in ­2014-15(CSO) 2. The CPI- New series inflation has fluctuated around 5.5% while the WPI has been in negative territory since November 2014. 3. Foreign exchange reserves have risen to US $ 351.5 (Feb-2016) 4. Net FDI inflows have risen to US $ 27.7 Billion (April-December2015-16) The fiscal sector registered three striking successes: ongoing fiscal consolidation, improved indirect tax collecti .....

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that India compares favorably with peer countries in the BBB investment grade and almost matches the performance of A-grade countries. External Challenges As per Economic Survey India is facing an unusually challenging and weak external environment. India needs to prepare itself for a major currency readjustment in Asia in the wake of a similar adjustment in China. Also it needs to address low growth in emerging markets due to capital controls to curb outflows of capital. In order to balance wea .....

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on is needed. Economic survey points out that resolving the TBS challenge comprehensively would require 4R s: recognition, recapitalization, resolution and reform. Banks must value their assets close to true value (recognition). Their capital position must be safeguarded via infusions of equity (recapitalization). The NPA s in the corporate sector must be sold (resolution). And future incentives for the private sector and corporate must be set right to avoid repetition of the problem (reform). S .....

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