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Highlights of Economic Survey 2013

Highlights of Economic Survey 2013
The Economic Survey 2013 was tabled in parliament today. The survey remained optimistic on reduction of inflation and hopes of fiscal deficit being contained to 5.1% of GDP. Here are brief highlight of the Economic Survey.

1) WPI inflation may decline to 6.2-6.6 pct by March

2) Fiscal deficit predicted at 5.1% of GDP for FY 2013

3) Tax mop-up to be lower than estimates

4) FY 2014 GDP to grow between 6.1% to 6.7%

5) FII inflows needed to sustain rupee

6) Recent reforms to yield faster growth, price stability

7) IIP Growth maybe sluggish

8) Higher agri output to help reduce inflation

9) Macro economic conditions could allow reduction in interest rates

10) Lower inflation to help cut interest rates

11) Monetary policy has limited influence on food prices

12) Further steps needed to diversify software exports

13) Mixed signals that industrial growth has bottomed out

14) FY 2013 Current Account Deficit seen at 4.3 for 2013

15) Industrial growth likely to improve in FY14

16) Concerned over Food Security Bill pushing up deficit

17) Need to raise diesel, LPG prices to reduce deficit

18) Focus should be on import curbs on gold and oil

19) Overall global economic environment remains fragile

20) Oil Subsidy key to fiscal risk

21) Growth downturn more or less over

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