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Economic Survey 2015 16 With Reforms in Key Areas, Reduction in Macro Vulnerability Today PIB PDF
Economic Survey 2015 16 With Reforms in Key Areas, Reduction in Macro Vulnerability Today PIB PDF
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19May2016
AllMinistries
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EnglishRelease18May2016
Date 18
Month May
Year 2016
President'sSecretariat
PresidentofIndiatoinaugurate
IntelligentOperationsCentrein
RashtrapatiBhavanandlauncha
mobileappfortransformationof
PresidentsEstateintoasmart
townshiptomorrow
Indiabelievesthateverycountry
shouldhaveazerotolerancepolicy
towardsterrorism,Presidenttells
CCTV
Cabinet
SiteforconstructionofNationalWar
MemorialandNationalWar
Museum
LeasingoutofAAIlandmeasuring
1500sqm.ToM/s.M.P.
WarehousingLogisticsCorporation
forestablishingCentreforPerishable
CargoatIndoreairport
JointissuebetweenDepartmentof
PostsandUnitedNationsPostal
PreviousDate
ClickhereforReleasesfrom1January1998
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MinistryofFinance
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26February,201612:11IST
FinanceMinisterShriArunJaitleyPresents
EconomicSurvey201516intheparliamenttoday
SaysRatesof8PerCentorHigherExpectedin
thenextcoupleofyearsasthereisMacro
EconomicStabilitynow
EconomicSurvey201516:withreformsinkey
areas,thereisreductioninMacroVulnerability
today
TheReportportendsgrowthrateintherangeof7to
7.5percentin201617.After7.2percentin2014
15 and 7.6 per cent in 201516, such growth rate of
over7percentmakesIndiathefastestgrowingmajor
economy in the world. It states that Indias
contributionintheglobaleconomyhasbecomemuch
more valuable today as China is rebalancing. The
Survey further mentions that the recent growth
revival in India is predominantly consumption
driven. It says while the growth in services sector
has moderated slightly. The acceleration in
manufacturinggrowthhascompensatedforthelower
growth in agriculture sector, due to two successive
yearsoflowerthannormalmonsoonrains.
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TheEconomicSurvey201516furtherpointsoutthat
thewholesalepriceinflationhadbeeninthenegative
territoryformorethanayearandtheconsumerprice
inflation has also declined to about half of what it
usedtobeinearlieryears.Itsaystheastutepolicies
and management of inflation by the government
throughbufferstocking,timelyreleaseofcerealsand
import of pulses had helped in keeping prices of
essentialcommoditiesundercheckduring201516.
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TheEconomicSurveypointsoutthatthereisurgent
need to rationalize agricultural policies including
subsidies by making them inputcrop and region
neutraltoimproveproductivityinagriculture.Itsays
theadoptionofQuality/GM/Pestresistantseedswill
be another pathway to improve the productivity in
agriculture. The concerns around GM seeds need to
be resolved through debate and tests. The Direct
Benefit Transfer (DBT) mode for inputs like seeds
and fertilizer can prevent leakage and diversions in
the system and reach the targeted beneficiaries, the
Surveysays.
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ItpointsoutthattheServicesSectorcontinuestobe
the key driver of Indias economic growth and it
acceleratedto10.3percentin201415from7.8per
centinthepreviousyearanditisexpectedtobe9.2
per cent (constant prices) in 201516 as per the
advanced estimates. This is due to lower growth in
PublicAdministration, Defence and other Services.
TherehasbeenarisingtrendinFDIequityinflowsto
theservicessectorinthefirstsevenmonthsof2015
16withFDIinflowsgrowingby74.7percent.The
Report, however, points out that there has been
sluggishness in Indias service exports in the recent
monthsduetoglobalslowdown.
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