The Economic Survey for 2016-17 tabled by Finance Minister Arun Jaitley in the Parliament underlined the need for more reforms.
The Survey stated that India’s economic growth has been pegged at 6.5 per cent for the current fiscal, down from 7.6 per cent recorded in the last financial year, but is expected to rebound in the range of 6.75-7.5 per cent in 2017-18.
The Survey’s GDP growth figure for the current fiscal is lower than 7.1 per cent the Central Statistics Office had forecast earlier this month. (Picture credit: twitter/arvindsubraman )
Here are major highlights from Economic Survey 2016-17:
GDP growth rate at constant market prices for year 2016-17 placed at 7.1 % as per the Advance Estimates by the CSO (Picture credit: twitter/PIB_India)
The decline in Fiscal Deficit has continued: Economic Survey (Picture credit: twitter/PIB_India)
Inflation is repeatedly being driven by narrow group of food items, pulses being major contributor of food inflation: Economic Survey (Picture credit: twitter/PIB_India)
The current account deficit (CAD) narrowed in the first half (H1) of 2016-17 to 0.3 % of GDP: Economic Survey (Picture credit: twitter/PIB_India)
Inflation based on Wholesale Price Index (WPI) averaged 2.9 per cent during April-December 2016 (Picture credit: twitter/PIB_India)
Headline inflation as measured by Consumer Price Index (CPI) remained under control for the third successive financial year: Economic Survey (Picture credit: twitter/PIB_India)
Growth rate of the industrial sector estimated to moderate to 5.2% in 2016-17 from 7.4% in 2015-16 (Picture credit: twitter/PIB_India)
Agriculture sector to grow at 4.1 per cent in the current year up from 1.2 per cent in 2015-16 (Picture credit: twitter/PIB_India)