Proposed wage hike for govt workers to impact plan for next fiscal. Retail Inflation likely to be 6% in FY16. Govt reiterates Revenue deficit target of 2.8% for FY16
Quick Highlights of Mid-year Economy Review
- Proposed wage hike for govt workers to impact plan for next fiscal
- Govt reiterates FY16 GDP forecast of 7-7.5%
- Retail Inflation likely to be 6% in FY16
- Govt reiterates Revenue deficit target of 2.8% for FY16
- India emerging as fastest economy among largest economies
- Govt reiterates fiscal deficit target of 3.9% for FY16
- Economy made considerable progress but challenges remain
- Capital situation were sufficient to finance Current Account Deficit ( CAD)
- Need to re-assess commitment to cut fiscal deficit by 0.4% of GDP for FY17.
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