Economic Survey 2016

The Economic Survey, which sets the scene for Jaitley's third annual budget on Monday, forecast that the Indian economy would grow by between 7.0 per cent and 7.75 per cent in the 2016-17 fiscal year that starts on April 1.
•    The survey was prepared by the finance ministry's chief economic adviser Arvind Subramanian.
•    2016-17 expected to be challenging from fiscal point of view; time is right for a review of medium-term fiscal framework
•    2015-16 fiscal deficit, seen at 3.9 per cent of GDP, seems achievable
•    Credibility and optimality argue for adhering to 3.5 per cent of GDP fiscal deficit target 
•    CPI inflation seen around 4.5 to 5 per cent in 2016-17
•    Low inflation has taken hold, confidence in price stability has improved
•    Expect RBI to meet 5 per cent inflation target by March 2017
•    Prospect of lower oil prices over medium term likely to dampen inflationary expectations
•    current account deficit: 2016/17 current account deficit seen around 1-1.5 per cent of GDP