Economic Survey pegs 2016-17 GDP growth at 6.5%

Finance Minister Arun Jaitley tabled the Economic Survey 2016-17 in Lok Sabha on Tuesday.

Highlights:

• Economic growth to rebound to 6.75 – 7.5% in 2017-18.

• GDP growth in 2016-17 to dip to 6.5 per cent, down from 7.6 per cent in last fiscal.

• Survey sees fiscal windfall from Pradhan Mantri Garib Kaayan Yojana, low oil prices.

• Farm sector to grow at 4.1 per cent in the current fiscal, up from 1.2 per cent in 2015-16.

• Fiscal gains from Goods and Services Tax will take time to realise: Survey.

• Growth rate of industrial sector estimated to moderate to 5.2 per cent in 2016-17 from 7.4 per cent last fiscal.

More details soon…

Source: Rediff