ECONOMIC SURVEY HIGHLIGHTS

Following are the highlights of Economic Survey 2014-15 presented by Finance Minister Arun Jaitley in Parliament on Friday.

* GDP growth seen at 8.1-8.5 per cent in 2015-16   

* Double digit growth trajectory; 8-10 pc GDP in coming yrs   

* Inflation shows declining trend during April-December   

* CAD to decline to about 1 pc in 2015-16   

* To adhere to fiscal deficit target of 4.1 pc of GDP; to aim for 3 pc

* Committed to fiscal consolidation; to enhance revenue generation

* More reforms on anvil; GST, expanding direct benefit transfers to be game-changers

* Foodgrains production for 2014-15 estimated at 257.07 million tonnes; will exceed last 5-yr average by 8.5 MT   

* NITI Aayog, 14th Fin Comm to enhance fiscal federalism   

* External Sector returning to strength, resilience   

* Need balance between 'Make in India' and 'Skilling India'   

* Services sector negotiations at WTO crucial for India in removing many market access barriers   

* Revitalise PPP model to revive investment   

* Manufacturing and services equally important for growth.

* Consumer inflation in 2015-16 to be between 5-5.5 pc   

* Lower inflation opens up space for more monetary easing   

* There is scope for big bang reforms

* Labour, capital, land, market reform and skills to be engines of growth

* JAM Trinity -Jan Dhan Yojana, Aadhaar, Mobile - to help transfer of funds to poor without leakage   

* Shield domestic industry to promote 'Make In India'   

* Borrowings to fund investment, not for meeting expenses   

* Food subsidy bill in Apr-Jan up 20 pc to Rs 1.08 lakh cr   

* Reform Railway's structure, commercial practices, overhaul of technology

* Public investment key growth engine in short-run for Railways, but not a substitute for private investment   

* More disinvestments on the anvil in current fiscal   

* Under-recoveries on petroleum products to come down to Rs 74,664 crore in 2014-15, from Rs 1.39 lakh crore in FY14   

* 4Ds - Deregulation, Differentiation, Diversification, Disinter (better bankruptcy laws) - to push financial      sector growth

* Implementation of GST to boost GDP, exports   

* Suggests medium to long term fiscal policy to target deficit, expenditure

* Global commodity prices to remain weak in 2015   

* Ecommerce sector to witness 50 pc growth in 5 yrs.