The Union Budget for 2017-18 will be presented on February 1, 2017. In this context, we present data regarding the state of the Indian economy in 2016-17, across indicators such as gross domestic product, inflation, and current account deficit. |
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CSO estimates GDP to grow at 7.1% in 2016-17 (not accounting for the effect of demonetisation) |
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Retail inflation lowest in 10 years, at 3.4% in December 2016; food inflation at 1.4% |
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Note: Retail inflation in calculated as change in consumer price index. |
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Industrial production (IIP) grew at 3.1% in 2015-16; average IIP growth in 2016-17 (Apr–Nov) was 0.4% |
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Fiscal deficit estimated at 3.5% of GDP in 2016-17; Revenue deficit at 2.3% |
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Note: Figures for 2015-16 and 2016-17 are revised and budget estimates, respectively. |
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Current Account Deficit on a decline, from USD 88 billion in 2012-13 to USD 22 billion in 2015-16 |
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Tax to GDP ratio of the central government at 10.3%; 5.6% from direct taxes and 4.7% from indirect taxes |
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Sources: All data compiled from Ministry of Statistics and Programme Implementation, Reserve Bank of India, Economic Survey 2015-16, and Ministry of Finance: Indian Public Finance Statistics 2015-16.
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