Workers can choose between higher take-home and contributing part of salary to EPF
While an import duty is ruled out, a small excise duty on jewellery manufacturing can be on the cards
By March 2019, government is planning to replace 77 crore incandescent bulbs with LED and 3.5 crore conventional streetlights with energy-efficient LED lights
By joining an expanded Trans-Pacific Partnership (TPP) or participating in a comprehensive Free Trade Area of the Asia Pacific (FTAAP) and the country's national income would expand by 4%, or $200 billion
It adds that while policy rates have been reduced substantially with four rate cuts of 125 basis points in 2015, bank lending rates have only fallen by around 50 basis points
The Economic Survey for 2015-16, tabled in Parliament by Finance Minister Arun Jaitley on Friday, pegged India's gross domestic product (GDP) to grow by 7-7.75 per cent next financial over this year. The upper part of the range given in the Survey is slightly higher than the 7.6 per cent, officially pegged for the current financial year, while the lower part is way down.
The survey lacks the time-bound roadmap to move forward
However, it needs to be emphasised that global finance is a critical enabler for the scaled up climate action plans, the survey said
Jaitley is likely to stick to fiscal consolidation on Monday; a rate cut on April 5 should be a fair expectation from the RBI governor
The survey added, after the launch of 'Make in India' initiative in 2014, there is a nearly 40% increase in FDI inflows
Economists are now making a strong case for pushing up public spending further. But that would entail deviating from the fiscal consolidation roadmap
Enhancing competition through more players can help to check and reduce cases of price rigging and cartel formation, it added
The CPSEs had contributed Rs 2,20,981 crore to the central exchequer in 2013-14
With its FY17 GDP projection at 7-7.5%, the Survey indicates that the underlying drivers of growth continue to be weak despite both fiscal and monetary stimuli
India, the world's second largest aluminium producer, produced 3.96 million tonnes in 2014-15
The Goods and Service Tax (GST) bill has the potential to push India's GDP by 1%-2%
Arun Jaitley said startup sector in the country is witnessing 'unusual dynamism', focussed on e-commerce and financial services
The survey also noted that the country needs to spend more on health and education
The Economic Survey further states that the fertilizer subsidies are very costly, accounting for about 0.8% of GDP. They encourage urea overuse, which damages the soil, undermining rural incomes, agricultural productivity, and thereby economic growth
The survey noted that there has been an increase in use of contract labour.