Highlights of Economic Review presented by PMEAC

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Highlights of Economic Review presented by PMEAC
Following are the highlights of the Economic Review presented by the Prime Minister's Economic Advisory Council (PMEAC) today.

* Economy projected to grow at 6.4 pc in 2013-14.

* Decline in growth appears to have bottomed out. * Global growth would continue to remain at modest levels.

* GDP estimates by CSO for 2011-12 and 2012-13 could be revised upwards.

* Investment and savings rates have come down

* Investment rate estimated at 35.8 pc of GDP in 2012-13.

* Domestic savings rate pegged at 30.8 pc of GDP last fiscal.

* CAD estimated to decline to 4.7 of GDP (USD 100 bn) in FY14 from 5.1 pc in FY13 (USD 94 bn).

* Merchandise trade deficit estimated at USD 213 bn (9.9 pc of GDP) in FY14 as against USD 200 bn (10.9 pc of the GDP) in FY13.

* NRI remittances estimated at USD 113 bn (5.3 pc of GDP) in FY14 versus USD 105.8 bn (5.7 pc of GDP) in FY13.

* For 2013-14, FDI inflows estimated at USD 36 bn.

* WPI inflation expected at 6 pc this fiscal. * PMEAC says slowing inflation will create space for RBI to cut interest rate.

* Central subsidies expected to go down to Rs 2,31,084 crore in FY14 from Rs 2,57,654 crore in 2012-13.

* FY14 revenue targets realisable.

* PMEAC says more needs to be done to facilitate new investment.


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