Reacting to the second volume of Economic Survey 2016-17, tabled in Parliament today, Mr Chandrajit Banerjee, Director General, CII stated that the Survey is a comprehensive and forthright document which lucidly and cogently articulates the current challenges and offers credible solutions for restoring the economy on its potential growth path.
Mr. Banerjee said that the Economic Survey has rightly described the current economic outlook as a combination of optimism and anxiety. Structural reforms and measures to address the twin balance sheet problem have accelerated while the macro-economic environment continues to remain stable. The Survey has elaborated on the key benefits of GST, pointing out that it is less complicated than the system it has replaced.
At the same time, CII agrees with the Survey’s assessment that factors such as agricultural stress, exchange rate appreciation and sector-specific issues will impinge on the short-term outlook for the economy.