February 26, 2016

The Economic Survey 2015-16, presented in the Parliament today by the Union Finance Minister Shri Arun Jaitley, states that the social infrastructure scenario in the country reflects gaps in access to education, health and housing amenities. Inclusive growth in India requires bridging gaps in educational outcomes and improved health attainments across the population.

Economic Survey 2015-16 highlights

  • Economic Survey 2015-16 highlights need for more investment in Human Capital, expresses concern at declining educational outcomes, emphasizes importance of improving efficiency in delivery of services in the health sector.
  • Indian economy stands out as a haven of macroeconomic stability, resilience and optimism and can be expected to register GDP growth that could be in the range of 7.0 per cent to 7.75 per cent in the coming year;
  • Despite Difficult Global Environment, India is Likely to be the Fastest Growing Major Economy in the World in 2016, says Economic Survey 2015-16
  • Services Sector remains the Key Driver of Economic Growth contributing almost 66.1% in 2015-16
  • Trade deficit declines to 106.8 billion US dollars in April-January 2015-16 from 119.6 billion US dollars in corresponding period 2014-15
  • Economy to clock more than 7 per cent growth this fiscal; Economic Survey 2015-16 predicts over 8 per cent growth in next couple of years.
  • Labour Force participation Rate higher in Rural Areas than Urban Areas, significantly lower for females than males: Economic Survey
  • Women account for 57% of employment given under MGNREGA in the Current Financial Year
  • 75 lakh Rural Youth trained under Deen Dayal Upadhyaya Grameen Kaushalya Yojana during 2015-16
  • 2015 – Landmark Year for India in Climate Change Initiatives: Economic Survey 2015-16;
  • Fiscal Deficit target of 3.9% for 2015-16 seems Achievable, says the Economic Survey
  • FTAs leading to increased Imports and Exports
  • GST rollout to mark an unprecedented reforms measure in the modern global tax history
  • Indian Economy needs to create enough “good” Safe Productive well-paying Jobs
  • In order to provide Food Security, in the current Agriculture Scenario, India has to Focus on Supplies which are timely and Uninterrupted and Affordable for the Poor
  • Amidst Gloomy International Economic Landscape, India Stands as a haven of Stability;
  • India Ranks First in Milk Production, Accounting for 18.5 Per Cent of World Production
  • Impressive strides made in the power sector in the last two years: addition of record generation capacity, moves towards one market in power, reform of discoms and development of renewable energy
  • Making Investments in Maternal Nutrition and Sanitation and Changing Social Norms to Enhance their Effectiveness can help to Exploit India’s Demographic Dividend
  • Agriculture Sector needs a Transformation to ensure Sustainable Livelihoods for the Farmers and Food Security
  • Economy will continue to Weather Global Sluggishness with Resilience; Outlook of Multilateral Institutions positive for India
  • Percentage Share of Horticulture Output in Agriculture is more than 33 Per Cent
  • Several Initiatives Taken Would Help Transforming Infrastructure Sector ; Results Achieving & Sustaining Higher Economic Growth
  • The Chakravyuha Challenge: Ease to enter, barriers to exit
  • Positive Changes Sweeping Power Sector
  • Reform Package of the Fertilizer Sector
  • Better off taking the benefit of subsidies; recommends interventions and rectification of anomalies
  • Spreading Jam across India’s Economy
  • Indian Equity Market Relatively Resilient Compared to Other Major Emerging Market Economies, says the Economy Survey

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Source Documents:

Economic Survey -Volume I

Economic Survey – Volume II