Even as the debate over fiscal prudence versus growth rages, the Macro Economic Survey for 2016 has voted for fiscal discipline, saying that 'credibility and optimality argue for adhering to 3.5 percent fiscal deficit target' for FY17. The Survey said that the government needs to be in a strong position to service its debt. At the same time, the Survey has also forecast a difficult year ahead, with GDP growth for FY17 expected to be flat or lower at 7-7.5 percent.
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- Natural Gas November contract is under-pressure with a loss of 1.3 percent at $ 3.245.
ReplyDelete- Crude Oil November expiry is quoted at $ 50.20 - down 0.3 percent.
- Brent Oil December delivery is slightly down at $ 51.90.
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