Descriptive  Capsule  MCQ

Introduction to Key Features of Budget 2017-18:

  • In the last two and half years administration has moved from  discretionary, favouritism based to system and transparency based
  • Inflation brought under control. CPI-based inflation declined from 6% in July 2016 to 3.4% in December, 2016
  • Economy has moved on a high growth path. India’s Current Account Deficit declined from about 1% of GDP last year to 0.3% of GDP in the first half of 2016-17. FDI grew 36%  in  H1  2016-17  over  H1 2015-16,  despite  5% reduction  in  global  FDI  inflows. Foreign exchange reserves  have  reached 361 billion US Dollars as on 20th January, 2017
  • War against black money launched
  • Government continued on path of fiscal consolidation, without compromising on public investment. The Indian economy has been robust to mild shocks and IMF forecasts, India to be one of the fastest growing major economies in 2017
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