Finance Minister Arun Jailtey (File Photo) Finance Minister Arun Jailtey (File Photo)A day ahead of the Union Budget, the Economic Survey for 2016-17 tabled in Parliament by Finance Minister Arun Jaitley does not present a bright picture for the next financial year 2017-18. While the Survey is optimistic about exports due to expectations of a fiscal stimulus by the US, he said India was quite vulnerable to restrictions on services. We cannot move towards 8-10 per cent (growth) if that’s the way the world markets (behave)…then we have to revise down realistically our growth target and potential,” Subramanian said. And then, there is always a temptation to see this as a morality play – that the guy has got away with it, and not as an economic problem, which it is today. Also, private investment is unlikely to recover significantly, the Survey said, from the levels of FY2017.

Source: Indian Express January 31, 2017 23:37 UTC