Economic Survey 2015-16 highlights

Economic Survey 2015-16, presented in the Parliament today by the Union Finance Minister Shri Arun Jaitley, states that the social infrastructure scenario in the country reflects gaps in access to education, health and housing amenities. Inclusive growth in India requires bridging gaps in educational outcomes and improved health attainments across the population.
Economic Survey 2015-16 highlights

• Union Finance Minister Arun Jaitley tables the Economic Survey for the current Financial Year in Lok Sabha; FY17 GDP growth seen at 7-7.5%.
• Economic Survey 2015-16 states that the total expenditure on Social Services including Education, Health, Social Security, Nutrition, Welfare of SC/ST/OBC etc. during 2014-15 (RE) was 7 % of GDP while it was 6.5% during 2013-14.
• Labour Force participation Rate higher in Rural Areas than Urban Areas, significantly lower for females than males. Women account for 57% of employment given under MGNREGA in the Current Financial Year
• The expenditure on health as a percentage of total expenditure on social services increased from 18.6% in 2013-14 to 19.3% in 2014-15 (RE) and 19.5% in 2015-16 (BE). 
• 2015 Landmark Year for India in Climate Change Initiatives. India plays important role in adoption of Paris Agreement and Launch of International Solar Alliance.
• Economic Survey 2015-16 proposes widening tax net from 5.5 percent of earning individuals to more than 20 percent, reasonable taxation of the better-off individuals with income from Real Estate and Agriculture, phasing out of the tax exemption Raj.
• Amidst Gloomy International Economic Landscape, India Stands as a haven of Stability. Expects GDP Growth Rate for 2015-16 in the range of 7 % to 7.75 %.
• Economic survey 2015-16 states that the fiscal deficit target of 3.9 per cent for the year 2015-16 seems achievable.
• Services Sector remains the Key Driver of Economic Growth contributing almost 66.1% in 2015-16
• Economy to clock more than 7 per cent growth this fiscal; Economic Survey 2015-16 predicts over 8 per cent growth in next couple of years.
• India Ranks First in Milk Production, Accounting for 18.5 Per Cent of World Production.
• Economic Survey 2015-16: Percentage Share of Horticulture Output in Agriculture is more than 33 Per Cent.
• Trade deficit declines to 106.8 billion US dollars in April-January 2015-16 from 119.6 billion US dollars in corresponding period 2014-15. Current Account Deficit (CAD) limits at 1.4 percent of Gross Domestic Product during April-September, 2015-16.
• Foreign Exchange Reserves stand at 351.5 billion US dollars as on 5th February, 2016

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