Highlights of Economic Survey 2014

Posted By: Staff
Subscribe to GoodReturns

Highlights of Economic Survey 2014
Here are the highlights of the Economic Survey tabled by Finance Minister Aun Jaitley in parliament today.

* Long-term external debt accounts for 78.2 percent of total external debt at end-December 2013 against 76.1 percent at end-March 2013. Long-term debt at end-December 2013 increased by $25.1 billion (8.1 percent) over the level at end-March 2013 while short-term debt declined by $4 billion (4.1 percent), reflecting a fall in imports

* Wholesale Price Index inflation fell to three-year low of 5.98 percent during 2013-14

* Consumer Price Inflation also showed signs of moderation

* Both Wholesale and Consumer Price Inflation expected to go downward

* Fiscal consolidations remains imperative for the economy

* Fiscal consolidation recommended through higher tax-GDP ratio then merely reducing the expenditure-GDP ratio

* Proactive policy action helped government remain in fiscal consolidation mode in 2013-14

* Fiscal deficit for 2013-14 contained at 4.5 percent of GDP

* Total outstanding liabilities of the central and state governments decline as a proportion of GDP

* India's balance-of-payments position improved dramatically in 2013-14 with the current account deficit (CAD) at $32.4 billion (1.7 percent of GDP) as against $88.2 billion (4.7 percent of GDP) in 2012-13

* The annual average exchange rate of the rupee went up from 47.92 per dollar in 2011-12 to Rs.54.41 per dollar in 2012-13 and further to Rs.60.50 per dollar in 2013-14

* India's foreign exchange reserves increased from $292 billion at end March 2013 to $304.2 billion at end March, 2014.


Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'


Get Latest News alerts from Goodreturns