NEW DELHI: The Economic Survey 2015-16 tabled by Finance Minister Arun Jaitley in the Parliament today indicates medium-term growth trajectory with downside risks.
According to the survey, the government sees the economy growing at 7 to 7.5 percent. It further says the medium-term growth trajectory is seen at 7 to 7.75 percent with downside risks on the back of global economic scenario.
The government is of the view that the economy has the capability to grow at a rate of eight percent in the next couple of years.
Additionally, the government also believes that the fiscal deficit at 3.9 percent is achievable in the next fiscal.
The survey, however, focused on recommendations by the Seventh Pay Commission to complicate the FY17 fiscal task. As far as the Current Account Deficit (CAD) for FY17 is concerned, the government sees it at 1-1.5 percent of the GDP.