Want create site? Find Free WordPress Themes and plugins.

In the midst of economic gloom everywhere, Finance Minister Arun Jaitley today announced the economic survey for 2016 which projects an excellent picture of India’s economic future.

But is it a proverbial silver lining?

FM Arun Jaitley presenting Economic Survey 2016
FM Arun Jaitley presenting Economic Survey 2016

Here we present the major highlights from economic survey 2016:

  • India’s economic growth is pegged between 7 and 7.5% for 2016. Financial year starts from April 1st, 2016
  • For 2015-16, fiscal deficit of 3.9% of GDP was estimated, which seems achievable as of now
  • Fiscal deficit amounting to 3.5% of GDP is being targeted for 2016-17
  • CPI Inflation is being targeted between 4.5 to 5% in 2016-17
  • Confidence in price stability has become stronger; low inflation is now holding
  • Account deficit targeted at 1-1.5% of GDP
  • Fair value of rupee can be achieved by monetary relaxation
  • In case capital inflows are weak, we can allow weakening of rupee
  • Indian market needs to be prepared for massive readjustment of currency in Asia, as a similar phenomenon shall be happening in China soon
Economic Survey Highlights
Source: PIB
  • Banks need Rs 1.8 trillion as capital for 2017-18
  • Rs 700 billion shall be provided to banks in current and succeeding years as budgetary allocation
  • Government is expected to sell-off certain non-financial institutions to bring in capital for state-run banks
  • Tax revenues are expected to be higher than budgeted levels of 2015-16
  • Government will attempt to expand tax net to 20% of earning individuals from 5% currently.
  • Some tax exemptions shall be removed to increase tax revenue
  • Entrepreneurs would be provided more soaps as entry and exit procedure shall be eased
  • GST is expected to be rolled out indicating major reforms

Read the full Economic Survey 2016 here.

Did you find apk for android? You can find new Free Android Games and apps.


Please enter your comment!
Please enter your name here