Finance minister Arun Jaitley on Wednesday showcased the pre-budget Economic Sur

vey in the Lok Sabha. As per the Economic Survey, the GDP growth for 2014-15 was
pegged at 5.4 to 5.9%.
Passage of PFRDA Act, shift of commodity futures trading into the finance minist
ry and the presentation of the FSLRC report were the three major milestones of 2
013-14.
* FSLRC, in its report, has given wide-ranging recommendations, broadly in the n
ature of governance enhancing principles for enhanced consumer protection, great
er transparency in the functioning of financial sector regulators in terms of th
eir reporting system, greater clarity on their interface with the regulated enti
ties and greater transparency in the regulation making process by means of manda
tory public consultations and incorporation of cost benefit analysis, among othe
rs
* Gross NPAs of banks registered a sharp increase. Overall NPAs of the banking s
ector increased from 2.36 percent of credit advanced in March 2011 to 4.40 perce
nt of credit advanced in December 2013.
* RBI has identified infrastructure, iron and steel, textiles, aviation and mini
ng as stressed sectors
* New Pension System (NPS), now National Pension System, represents a major refo
rm of Indian pension arrangements, and lays the foundation for a sustainable sol
ution to ageing in India by shifting to an individual account, defined-contribut
ion system.
* Till May 7, 2014 67.11 lakh members have been enrolled under the NPS with a co
rpus of Rs. 51,147 crore
* Swavalamban Scheme for workers in the unorganized sector launched in 2010, ext
ended to five years for the beneficiaries enrolled in 2010-11, 2011-12, and 2012
-13; benefits of co-contribution would be available till 2016-17.
* Long-term external debt accounts for 78.2 percent of total external debt at en
d-December 2013 against 76.1 percent at end-March 2013. Long-term debt at end-De
cember 2013 increased by $25.1 billion (8.1 percent) over the level at end-March
2013 while short-term debt declined by $4 billion (4.1 percent), reflecting a f
all in imports
* Wholesale Price Index inflation fell to three-year low of 5.98 percent during
2013-14
* Consumer Price Inflation also showed signs of moderation
* Both Wholesale and Consumer Price Inflation expected to go downward
* Fiscal consolidations remains imperative for the economy
* Fiscal consolidation recommended through higher tax-GDP ratio then merely redu
cing the expenditure-GDP ratio
* Proactive policy action helped government remain in fiscal consolidation mode
in 2013-14
* Fiscal deficit for 2013-14 contained at 4.5 percent of GDP
* Total outstanding liabilities of the central and state governments decline as
a proportion of GDP

* India s balance-of-payments position improved dramatically in 2013-14 with the c

urrent account deficit (CAD) at $32.4 billion (1.7 percent of GDP) as against $8
8.2 billion (4.7 percent of GDP) in 2012-13
* The annual average exchange rate of the rupee went up from 47.92 per dollar in
2011-12 to Rs.54.41 per dollar in 2012-13 and further to Rs.60.50 per dollar in
2013-14
* India s foreign exchange reserves increased from $292 billion at end March 2013
to $304.2 billion at end March, 2014