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7 - 7.75 growth in 2016-17 Key Highlights of the Economic Survey 2016

Budget - By: - Bimal jain - Dated:- 29-2-2016 Last Replied Date:- 30-12-1899 - Dear Professional Colleague, Ahead of the Union Budget 2016, the Hon ble Finance Minister Shri Arun Jaitley tabled today Economic Survey Report 2016 in the Parliament, outlining the broad direction of the Union Budget 2016 and the economic performance of the Country. A flagship annual document of the Ministry of Finance, Economic Survey reviews the developments in the Indian economy over the previous 12 months, summar .....

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ublic sector banks and some corporate houses. The twin balance sheet challenge is the major impediment to private investment and a full-fledged economic recovery, the Survey said. The Economic Survey 2016 has also expressed concern over approval of Goods and Services Tax Bill being elusive so far. We are sharing with you the key highlights of the Economic Survey 2016: Economic Outlook, Prospects and Policy Challenges: With reforms in key areas, there is reduction in Macro-Vulnerability today Rat .....

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ss economy to improve lives of poor; Making investments in maternal nutrition and sanitation and changing social norms to enhance their effectiveness can help to exploit the country's demographic dividend; Economy will continue to weather global sluggishness with resilience; outlook of multilateral institutions positive for India Fiscal Deficit 2016-17 expected to be challenging from fiscal point of view; time is right for a review of medium-term fiscal framework; 2015-16 fiscal deficit, see .....

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Current Account Deficit 2016/17 current account deficit seen around 1-1.5% of GDP. Currency Rupee's value must be fair, avoid strengthening; fair value can be achieved through monetary relaxation India needs to prepare itself for a major currency readjustment in Asia in wake of a similar adjustment in China; Rupee's gradual depreciation can be allowed if capital inflows are weak. Taxes Tax revenue expected to be higher than budgeted levels in 2015-16; Proposes widening tax net from 5.5% .....

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affecting prospects for reviving private investments; Underlying stressed assets in corporate sector must be sold or rehabilitated; Government could sell off certain non-financial companies to infuse capital in State-run banks; Government proposes to make available 700 billion rupees via budgetary allocations during current and succeeding years in banks. Agriculture and food management India ranks first in Milk production, accounting for 18.5% of world production; India recording a growth of 6.2 .....

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