Following are the highlights of Part-2 of Economic Survey 2016-17, tabled in Parliament ...

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.