Economic survey 2013 :Highlights

Tags: News
Following are highlights of the report:

> GDP growth seen at 6.1-6.7% in 2013/14

> India likely to meet fiscal deficit target of 5.3 pct of GDP in 2012/13, despite "significant" shortfall in revenues

> Government target for fiscal deficit is 4.8 pct of GDP in 2013/14

> Government target for fiscal deficit is 3 pct of GDP in 2016/17

> Prioritisation of expenditure seen as key ingredient of credible medium-term fiscal consolidation plan

> Raising tax to GDP ratio to more than 11 pct seen as critical for sustaining fiscal consolidation

> Room for accommodative monetary policy with expected fiscal consolidation

> Headline inflation may decline to 6.2-6.6 pct by March

> Focus on curbing imports, making oil prices more market determined to reign in current account deficit

> Recommends curbing gold imports to reign in current account deficit

> Room to increase exports in the short run limited

> Foreign Institutional Investors (FIIs) flows need to be targeted towards long-term rupee instruments

> Industrial output seen growing around 3 pct in 2012/13


  • EPFO would do well to have better risk management of available cash

    The Employees’ Provident Fund Organisation (EPFO) is apparently revisiting its decision to invest about Rs 6,000 crore in stocks this year.


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