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Economic Survey to be tabled in Parliament on Wednesday, likely to prescribe steps to stop declining growth

Source : ANI
Last Updated: Tue, Feb 26, 2013 13:50 hrs

Finance Minister P. Chidambaram will table the Economic Survey 2013-14 in Parliament on Wednesday.

According to media reports, the survey is likely to suggest measures to stop declining GDP growth, currently estimated to be at a decade-low five percent in fiscal 2012-13.

Prepared by a team of economists led by Chief Economic Advisor Raghuram Rajan, the Economic Survey may pitch for speeding up economic reforms to activate a sluggish economy.

The Economic Survey is customarily tabled in Parliament by the Finance Minister a day before the General Budget for the coming fiscal year. The document serves as an indicator of what is likely to be contained in the General Budget proposals.

Ways to enhance industrial production and exports is likely to dominate the survey.

On the taxation front, the survey could pitch for early implementation of the Goods and Services Tax (GST) and the Direct Taxes Code (DTC), with a view to expanding tax base and raising tax-GDP ratio.

The issues like surge in gold import and widening Current Account Deficit (CAD) too are likely to figure prominently. (ANI)

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