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Economic Survey 2013: HIGHLIGHTS

Economy to grow at 6.1-6.7%, but widening trade, current account gap matters of concern

BS Reporter Mumbai
The Economic Survey 2013 says that foreign exchange reserves were steady at $295.6 billion at December 2012 end.  Fiscal deficit may be at 5.3%, possible that Chidambadarm may bring it down to 5.2%, committed to controlling fiscal deficit. Food inflation was mainly driven by cereal prices. Diesel price hike will put upward pressure on inflation. The Survey also said that the economic slowdown is a wake up call for stepping up reforms.

Here are the other highlights:

FY13 GDP growth target of 5% not difficult to achieve

Medium term fiscal consolidation plan 'credible'

Fund flows to be influenced by risk perception of investors

Need to hike Diesel, LPG prices in line with global prices

Montek says: Not surprised finance ministry has used CSO estimates for basis of survey

Need to access credit at lower costs

Tight RBI policy led to sharper than expected slowdown

RBI rate cut has had massive impact already

FY14 fiscal deficit seen at 4.8%.
 

















On inflation, survey echos sentiment that in short run, impact of policy easing may not increase inflation

Curb import, keep public spending in check

FY14 Current account deficit seen at 4.6%

Cushion for lowering trade deficit must be limited

Core inflation down on rbi action, fall in global prices

Services remains the biggest driver of GDP growth. FY13 services growth seen at 6.6%





















Tight RBI policy led to sharper than expected slowdown

Further steps needed to diversify software exports

FY13 tax mop up significantly lower than budget estimate

0.2% fiscal slippage possible in FY14

Will need direct, indirect tax increases will get you revenue numbers: financial experts

Credible austerity has to be the way to growth: experts

Finance sector to be influenced by short-term, long term of

Outlook on public finance: controlling subsidy, petroleum subsidy, recent reforms in diesel prices, medium term consolidation plan seems secure

Need to curb gold and oil imports to curb current account deficit: Economic Survey

Need to stay on path of indicated fiscal deficit

Raghuram Rajan: slowdown in economy, euro crisis, uncertainty in fiscal policy in US and weak monsoon

Raghuram Rajan: difficult times but india has navigated such time before and with good policies we can go ahead

Unless india undertakes reforms, will growt far below potential

Monetary policy has limited influence on food prices

Mixed signals that ind growth has bottomed out

Main focus shud be on import of curbs of oil and gold

FII flows need to be tageted

Need to improve acccess to credit at lower rates

IIP growth may remain sluggish

Widening trade, current account gap matters of concern

Room to increase exports limited in short term

Need to curb gold imports to curb current account deficit

Need to stay on path of indicated fiscal deficit

FY13 services growth seen at 6.6%

WPI may decline to 6.2-6.7%  in FY14, fall in inflation to increase monetary easing

Room to increase exports limited in short term limited

Growth downturn more or less over, economy looking up

Need to curb gold imports to cut CAD

Diesel price hike to put pressure on inflation

Widening trade, current ac defiit matter of concern

FY13 tax mop up significantly lower than last year

Food inflation mainly driven by cereal prices

Medium-term fiscal consolidation plan credible

Industrial growth still vunerable to local, global factors

Apr-Dec data shows 5.3% fiscal deficit achievable

Need to stay on path of indicated fiscal consolidation

Overall global economic environment remains fragile

Govt committed to fiscal consolidation

Concerns food security bill may push up subsidy

Lower ind growth due to sluggish investments

Economy to grow at 6.1-6.7% in FY13

WPI at 6.2% to 6.6% in march

Controlling supsidy remains crutial concern

Need to up diesel lpg prices in line with global rates

Tight RBI policy led to sharper than expected slowdown

Mixed signals that ind growth has bottomed out

Main focus shud be on import of curbs of oil and gold

FII flows need to be tageted

Need to improve acccess to credit at lower rates

IIP growth may remain sluggish

Indian economy to grow at 6.1-6.7%

WPI inflation in March may go down to 6.2-6.6%

Lower inflation to create more room for rate cuts

Growth downturn more or less over; economy looking up

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First Published: Feb 27 2013 | 12:54 PM IST

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