For the first time, the government presented a second or a mid-year economic survey for the year 2017-18 highlighting the new factors that the economy faces since the last such exercise in February. The Economic Survey said that a number of indicators-- GDP, IIP, credit, investment and capacity utilisation, point to a deceleration in real activity since first quarter of 2016-17 and a further deceleration since the third quarter. It said the government and the RBI have taken "prominent steps" to address the twin balance sheet challenge which has boosted market confidence in the short run. The Survey said that the balance of risk to achieving the 6.75-7.5 per cent growth has shifted to the downside. "The balance of probabilities has changed accordingly, with outcomes closer to the upper end having much less weight tha previously," it added.

Source: dna August 11, 2017 07:18 UTC