Friday, 18 December 2015

Quick highlights of Mid-year Economy Review: Govt reiterates FY16 GDP forecast of 7-7.5%

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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