Economic Survey 2012-13 Highlights

Overall Rating: star ratingstar ratingstar ratingstar ratingstar rating[0/5]Total Votes [  ]  
Rate this page:
Following are the highlights of the Economic Survey 2012-13 which were tabled in parliament by the Finance Minister P Chidambaram.

  • The economy is likely to grow 6.1 to 6.7 per cent

  • Inflation has remained muted

  • WPI inflation may decline up to 6.2 to 6.6 per cent

  • Diesel price hike will put upward pressure on inflation

  • The economy is looking up, downturn will be more or less over

  • The economic slowdown is a wake-up call for stepping up reforms

  • Tax mop-up this fiscal year will significantly lower the Budget target

  • Trade, current account deficit is a matter of concern

  • Measures to ease inflow of remittances could help meet financing current account deficit

  • CPI inflation has shown a rising trend in the past few months

  • The Fiscal deficit in the FY13 is to be contained at 5.3 per cent

  • Finance Minister says that the room to increase exports in the short term is limited

  • There is a need to examine the linkages and tradeoffs between policy rate changes and growth in the Indian context

  • More attention needs to be given to asset price bubbles in the real estate and stock markets

  • A longer term outlook on fiscal deficit is already outlined

  • Fiscal consolidation roadmap says that the deficit will be at 3 per cent by FY17

  • Addressing the key fiscal risks of petroleum subsidies is critical for the fiscal consolidation

  • The Medium-term fiscal consolidation plan is credible

  • The recent reforms in diesel prices and expenditure reprioritization is an indicator in that direction

  • A reasonably well-developed corporate bond market is required

  • There is a need for a long-term finance for infrastructure projects

  • FDI in retail will pave way for investment in new technology and marketing of agriculture produce

  • The survey calls for widening tax base and prioritizing expenditure to bridge the fiscal deficit

  • It also calls for restricting gold imports to contain current account deficit

  • Aadhaar based direct cash transfer scheme could help plug leakages in subsidies

  • The survey pitches for hike in prices of diesel and LPG to cut subsidy burden

  • Prospects for world trade as well as of India are still uncertain.

Last Updated on 02/27/2013

>> More about India Budget