Current Affairs-Indian Economic Survey-2013-14-Fiscal deficit for 2013-14 contained at 4.5% of the GDP

Fiscal deficit for 2013-14 contained at 4.5% of the GDP

• Wholesale Price Index inflation falls to a three year low of 5.98% during 2013-14 

• Consumer Price Inflation also signs of moderation 

• Both, Wholesale and Consumer Price Inflation, expected to go downward 

• Fiscal consolidations remains imperative for the economy, says the Economic Survey 

• Economy Survey recommends fiscal consolidation through higher tax-GDP ratio then merely reducing the expenditure to GDP ratio 

• Proactive policy action helped government remain in fiscal consolidation mode in 2013-14 

• Fiscal deficit for 2013-14 contained at 4.5% of the GDP 

• Total outstanding liabilities of the central and state governments decline as a proportion of GDP