Economic Survey 2014 pegs GDP growth at 5.5% to 5.9%

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Economic Survey 2014 pegs GDP growth at 5.5% to 5.9%
The Economic Survey, which highlights the prospects of the economy in the short term, has pegged the GDP growth for FY 2015 at 5.5% to 5.9%. The Survey presented in Parliament by Finance Minister Arun Jaitley also points out that inflation has eased but there remains risk, with a limited scope for RBI to cut rates.

The Survey has also pointed out that there is a need for subsidy reforms, which is essential for fiscal consolidation. The Survey also pointed out that there is a need to expand decentralized procurements for PDS.

The Economic Survey, which is presented a day ahead of the Union Budget has revealed that the improved twin deficit may lead to higher but gradual growth. However, it also pointed out that the downward risk to economic growth remained due to poor monsoon and external factors.

The Economic Survey highlighted that revival of industrial sector, with its economy-wide linkages, was central to revival of aggregate economic activity

The Economic Survey released by Finance Minister is an important pointer on where the economy is headed and certain pointers on how the past performance has been.

Story first published: Wednesday, July 9, 2014, 12:25 [IST]
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