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

EDITORIAL OF THE DAY

  • India’s political space acts as a safety valve for maverick politicians and frustrated electorate

    While it is easy to be cynical about Indian democracy and its ways, the fact is that the vast political space that the system provides for in this cou

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Taslima Nasreen

Bangladesh no country for atheists

It’s a matter of pride to be a freethinker, atheist ...

Purnendu Ghosh

Silence makes you aware of yourself

Often, we don’t feel the necessity of making contact with ...

Shona Adhikari

Artistic focus on women's empowerment

The focus on the girl child remains an important one ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture