Finance Minister Arun Jaitley presented Economic Survey 2013-14 in Parliament today
Following are the highlights of Economic Survey presented by FM Arun Jaitley in Parliament today
- Estimates FY15 GDP Growth At 5.4-5.9%
- Need New FRBM Act With 'Teeth'
- Capital Controls Not Supporting Globalisation Of Economy
- Inflation Limits Scope For RBI To Cut Rates
- Subsidy Reforms Essential To Fiscal Consolidation
- FY15 GDP Growth Likely To Be On Lower Side Of Projections
- Need Common Market For Agricultural Commodities
- Need To Expand Decentralised Procurement For PDS
- Need To Review Nutrient-based Fertiliser Subsidy
- Raising Tax-GDP Ratio Key To Fiscal Consolidation
- Eco Can Look Forward To Better Growth Prospects In FY15
- Expect Industrial Recovery Seen In April To Continue
- Inflation Has Eased, But Still Above Comfort Level
- Moderation In Inflation To Help Ease Monetary Stance
- Need Formal Monetary Policy Framework For Targetting CPI
- Monetary Policy Essential For Long-run Inflation Control
- See Improvement In Mfg, Balance Of Payments In FY15
- There Are Concerns Over El Nino Emergence This Year
- Downside Risk To Eco Due To Geopolitical Tensions
- Need To Go For Cash Transfer Of Subsidy
- Need To Move To Market Prices Of Fuel Products
- MNREGA Has Created Labour Shortage & Raised Wages
- Eco Growth Has Slowed Down On Domestic, External Factors
- Fiscal Consolidation Remains Imperative For Economy
- Improved Twin Deficit May Lead To Higher But Gradual Growth
- RBI Stand Intended To Set Eco On Disinflationary Path
- High Food Inflation On Structural, Seasonal Factors
- Downside Risk To Eco Due To Geopolitical Tensions
- Downside Risk To Eco From Poor Monsoon, Invst Climate
- BoP Position Improved 'Dramatically' In FY14
- Industry Growth Likely To Revive In Next 2 Years
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