All's not well on the fiscal side, says the second part of the Economic Survey 2016-17 tabled in Parliament on Friday. The balance of probability has correspondingly shifted away from the upper end of the growth forecast in February (before the Union Budget)," said Volume 2 of the Economic Survey report authored by Arvind Subramanian, Chief Economic Advisor. The survey stated that the government will be able to meet the fiscal deficit target of 3.2 per cent of GDP in the current fiscal and 3 per cent in the two years after that. The CEA's mid-term review of the Economic Survey 2016-17 has not come as a surprise to most economists. This, along with appreciating rupee and a continued deficiency of private investment and export demand, has accentuated the impact on GDP growth," he said.

Source: dna August 12, 2017 01:18 UTC