The Finance Ministry is planning to do away with the mid-year economic review which it usually presents in the winter session of the parliament, reports CNBC-TV18.
Watch the interview of Saumitra Chaudhuri, Former Member, Planning Commission with Shereen Bhan on CNBC-TV18, in which he shared his readings and outlook on India's economic future and the mid-year economic review.
Growth for fiscal year 2017 is unlikely to be much higher than it would in 2016, the Mid-year Economic Review stated.
The Mid-Year Economic Review says that while meeting this year's fiscal deficit target of 3.9 percent is possible, next year's 3.5 percent target may have to be re-considered.
Watch the interview of S Narayan, Former Finance Secy, Soumya Kanti Ghosh, Chief Economic Advisor, State Bank of India and Deven Choksey, MD, KR Choksey Securities with Latha Venkatesh & Ekta Batra on CNBC-TV18, in which they shared their views on the mid-year economic review.
Samiran Chakrabarty of Standard Chartered Bank says except for the government talking about inflation control from the perspective of WPI and not CPI, which fails to find a mention in the review, nothing else is new.
The government has tabled the mid-year economic review in the Rajya Sabha today. In the review, it has pegged FY14 GDP growth at 5 percent, expecting economic recovery to pick up in coming quarters. It feels the process of fiscal consolidation is broadly on track.