Economic Survey 2016-17 News

The Economic Survey 2016-17 presented in parliament by Finance Minister Arun Jaitley on Tuesday said good fiscal performance by states needed to be incentivised to track overall performance.

Fiscal deficit in the first nine months of 2016-17 touched 93.9 percent of the Budget target against 87.9 percent for the same period a year ago.

It is not just demonetisation which is threatening the world's fastest growing economy tag of India. A spike in oil prices too may have dampening impact on the growth, the Economic Survey said today.

The Economic Survey 2016-17 tabled in Parliament on Tuesday by Union Finance Minister Arun Jaitley showed that foreign equity inflows during the first six months of 2016-17 fiscal grew by 30.72 percent.

Even as the Niti Aayog has said that India does not have the necessary financial resources for the project, the government`s Economic Survey 2016-17 presented on Tuesday advocated a Universal Basic Income (UBI) scheme as an alternative poverty reduction mechanism in place of various ongoing social welfare programmes.

Playing down huge sell-off by foreign investors in Indian markets, the Economic Survey today said FPI outflow last year was not an India-specific phenomenon as most emerging markets witnessed a pullout due to higher returns in advanced economies.