Following are the highlights of Part-2 of Economic Survey 2016-17, tabled in Parliament today: * Difficult to achieve upper end of 6.75-7.5 per cent real GDP growth predicted in January. * Fiscal deficit expected to decline to 3.2% of GDP in 2017- 18, compared with 3.5% in 2016-17. * Retail inflation likely to remain below 4% by March. * Fiscal outlook for 2017-18 is uncertain. * Considerable scope for monetary policy easing; Repo Rate 25-75 basis points above neutral rate. * Structural reform agenda includes implementing GST, Air India privatisation, rationalising energy subsidies, Addressing twin balance sheet challenge facing banks. * Early signs of tax base expanding post implementation of The Goods and Services Tax (GST). * Nominal GDP growth accelerated post demonetisation; 5.4 Lakh new tax payers post note ban. * Demonetisation may continue to pay dividends over time. * Farm loan waiver could cut economy demand by up to 0.7% of GDP; State farm loan waivers could touch Rs 2.7 lakh crore. * Stock limits, movement curbs on farm goods need to end. * Credit off-take from banks continued to decelerate. * Private banks' loan growth more robust than of PSU banks. * House rent allowance may push inflation by 40-100 bps. * Economy lags dynamism to push inflation towards 4%. * Geopolitics not as big a risk for oil prices as before. * Gross non-performing advances (GNPAs) ratio of Scheduled Commercial Banks (SCBs) rose from 9.2 per cent in September 2016 to 9.5 per cent in March 2017. * India targets to lower the emissions intensity of GDP by 33-35 per cent by 2030; will raise share of non-fossil fuel Based power generation capacity to 40 per cent. * Urgent need to increase access of the poor to more Efficient energy resources. * Current account deficit (CAD) down to 0.7% of GDP in 2016- 17 from 1.1% in 2015-16. * Gross FDI inflows to India increased significantly to USD 60.2 billion in 2016-17 from USD 55.6 billion in 2015-16. * Net FDI inflows at USD 35.6 billion as opposed to USD 36 Billion in 2015-16. * India's forex reserves of USD 386.4 billion second largest After Brazil among major economies. * Green shoots on trade horizon; world trade growth projected At 3.8% and 3.9% in 2017 and 2018. * India's trade growth picking up. * Deterioration in quality learning in primary education, * Targeted enrolment in middle education a challenge. * Employment poses great challenge in structure dominated by Informal, unorganised and seasonal workers. * High levels of under-employment, skill shortages. * Labour market impacted by rigid laws and emergence of Contract labour.
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