Economic survey 2015 – Highlights
Growth: Economic Survey has estimated economic growth between 8.1% and 8.5% in 2015-16. Growth rate in 2014-15 is estimated at 7.5%.
Fiscal Deficit: Government will adhere to fiscal deficit target of 4.1% of GDP in 2014/15.
Inflation: Inflation shows declining trend in 2014/15. Inflation likely to be below central bank target by 0.5 - 1 percentage point. CPI inflation in 2015/16 is likely to range between 5 - 5.5%.
Fiscal Consolidation: Govt. remains committed to fiscal consolidation. India can balance short-term imperative of boosting public investment to revitalize growth with fiscal discipline.
Current Account Deficit: Estimated to fall 1% of GDP in coming fiscal year.
Reforms: There is scope for big bang reforms now. India can increase public investments and still hit its borrowing targets.