Economic Outlook 2013-14 by PMEAC Loss-Making-CPSUs Following are the highlights of the Economic Outlook 2013-14 released by Prime Minister’s Economic Advisory Council (PMEAC) Chairman C Rangarajan on 13 September, 2013. * GDP growth for 2013-14 lowered to 5.3%, from 6.4% in April * Growth likely to pick up in the second half of 2013-14 * Agriculture growth pegged at 4.8%, industry at 2.7% * Services growth to decelerate to 6.6%, from 7.1 % in 2012-13 * March-end inflation projected at 5.5% * Current Account Deficit (CAD) main concern, may come down to $70 billion or 3.8% of GDP * Trade deficit projected at $185 billion * Gold imports seen at $38 billion * Net capital inflows to come down to $61.4 billion from $89.4 billion * Rupee at current level is well corrected, will strengthen with improvement in CAD * Containing fiscal deficit at 4.8% of GDP a challenge * Expenditure compression, subsidy restructuring necessary to avoid fiscal slippages * Current monetary policy stance should continue till rupee stabilises * Liberalise FDI norms, resolve tax issues, focus on coal and power sector to promote growth * Domestic savings rate to increase to 31%, from 30.2% in 2012-13 * Investment rate to decline to 34.7% of GDP from 35% #admin
Posted on: Fri, 20 Sep 2013 15:22:35 +0000
Trending Topics
Recently Viewed Topics
© 2015