Economic Survey 2017 has lowered GDP growth forecast for current fiscal 2016-17 to 6.5 per cent.
Overall, India's trade deficit narrowed to USD 13 billion in June from USD 13.8 billion in May.
Mumbai: The Union Government on Tuesday revised its GDP growth estimates for 2015-16 from 7.6 per cent to 7.9 per cent.
It means the government believes GDP grew at a faster pace than what it earlier estimated for the said fiscal.
Finance Ministry on Tuesday said current account deficit (CAD) in first half of 2016-17 slipped to 0.3 per cent of GDP.
Earlier in the day, the government tabled Economic Survey 2017 in Parliament that lowered GDP growth forecast for current fiscal 2016-17 to 6.5 per cent. Survey further said GDP growth will likely rebound in the range of 6.75-7.5 per cent in 2017-18.
( Source : deccan chronicle )
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