New Delhi: India’s economic growth has been pegged at 6.5% for the current fiscal, down from 7.6% recorded in the last financial year, but is expected to rebound in the range of 6.75-7.5% in 2017-18.
The Economic Survey for 2016-17, tabled in the Parliament by Finance Minister Arun Jaitley on Wednesday, underlined the need for more reforms.
ALSO READ: President Mukherjee hails achievements of government ahead of Union Budget
The Survey’s GDP growth figure for the current fiscal is lower than 7.1% the Central Statistics Office had forecast earlier this month.
The Survey lists some of the challenges that might impede India s progress. These include ambivalence about property rights and the private sector, deficiencies in state capacity, especially in delivering essential services and inefficient redistribution.