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Economic Survey 2015-16

( 16:27, 26-Feb-16)

Economic Survey 2015-16

# India haven of stability amid gloomy global econ

# Pay panel to have little impact on inflation

# FY16 economic growth seen 7.0-7.5%

# FY17 economic growth seen 7-7.5%

# Need major invest in health, education

# India's long run growth potential 8-10%

# 8% growth possible in the next couple of years

# India haven of stability amid gloomy global econ

# Pay panel to have little impact on inflation

# Correlation between India, world growth rate sharply up

# Confidence in price stability has improved

# Low inflation has taken hold

# Budget will have to contend with global econ situation

# Short term econ growth depends on global growth, demand

# 7th pay panel, good monsoon can up domestic consumption

# Tax base should widen to over 20% from 5.5% now

# Govt to meet FY16 fiscal deficit target of 3.9% of GDP

# FX reserves as on Feb 5 at $351.5 bln

# Expect FY16 GDP growth rate in 7.00-7.75% range

# FY16 fiscal deficit target seems achievable

# FY17 expected to be challenging from fiscal point

# FY16 GDP growth seen 7.6%

# Trade gap declined Apr-Jan to $106.8 bln vs $119.6 bln

# CAD at 1.4% of GDP Apr-Sep

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