Eco Survey pegs GDP at 7-7.75%

Pegging growth at 7-7.75 per cent for next fiscal, the pre-budget Economic Survey on Friday asked the government to press ahead with reforms, cut subsidies and introduce GST, while advocating a review of mid-term fiscal targets to create space for additional expenditure.
It called India “a haven of stability“ in a gloomy global landscape but warned of possible currency turmoil after China's recent devaluation.
Tabled in Parliament three days before Finance Minister Arun Jaitley presents his third Budget on Monday, the Survey put 2015-16 GDP growth at 7.6 per cent, below its earlier expectations of 8.1-8.5, adding that India will take a “couple of years“ to achieve the potential 8-10 per cent rate.
“With focus on reforms in key sectors coupled with stable macroeconomic conditions, the growth pros pect for the economy in the next year appears reasonable,“ the Survey said, adding that the headwinds may come from sluggish global demand.

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