February 27, 2015
Show AI Summary
Indian macro recovery driven by revised national accounts, fiscal consolidation measures, GST proposal, and strengthened external and monetary management.
Revision to the 2011-12 national accounts base raises measured growth and alters sectoral GVA shares, reinforcing a narrative of macroeconomic recovery in 2014-15 driven chiefly by domestic demand and services. The Survey emphasises a policy package centred on fiscal consolidation-revenue mobilisation, subsidy rationalisation, diesel deregulation, direct benefit transfers, disinvestment and a proposed dual GST-to stabilise public finances. Complementary monetary easing, liquidity reforms, and a stronger external position are presented as supporting conditions for investment recovery, while targeted social and infrastructure measures aim to sustain inclusive growth.