India’s GDP to grow at 7 to 7.5 %: Report

According to the mid-term economic review tabled in Parliament, the country’s economic situation is satisfactory and the economy has shown remarkable stability.

• The review has cut the growth forecast for the current financial year to 7-7.5%from earlier estimate of 1-8.5%.
• The report has set retail inflation target at 6% by the end of March 2016 Government is confident of meeting the fiscal deficit targets without any cut in expenditure.

The government’s policy actions and RBI’s monetary policy response have led to improvement in macro stability India is decidedly moving out of the macro adjustment phase and into the recovery phase.

• Keeping the economic scenario in mind Government has not cut its expenditure and has invested in Health and rural development schemes on priority.