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Economic Survey: Sensex holds 200 pts gains; FY16 GDP growth seen at 8.5%

It’s a strong session on Dalal Street. Equity benchmarks bounced back from yesterday’s lows as investors await the macro economic survey from the government.

12:00

The News International Team

12:17pm The government sees FY16 retail inflation in range of 5-5.5 percent and says will adhere to fiscal deficit target of 4.1 percent of GDP in FY15.

It estimates current account deficit at 1.3 percent of GDP in FY15.

12:15pm In its Economic Survey 2014-15, the government says it remains committed to fiscal consolidation. According to them, outlook for domestic macro-economic scenario is optimistic.

12:10pm According to Economic Survey 2014-15, savings-investment dynamics will be crucial for growth. The government sees FY15 GDP growth at 7.4 percent and FY16 growth at 8.1-8.5 percent.

12:05pm Economic survey says inflation shows declining trend during FY15. “There is scope for big bang reforms now. India farm output growth is likely to lag behind 4 percent aim and double-digit economic growth trajectory is now a possibility,” it adds.

12:00pm Market Check: It’s a strong session on Dalal Street. Equity benchmarks bounced back from yesterday’s lows as investors await the macro economic survey from the government.

The 30-share BSE Sensex rose 229.79 points to 28976.44 and the 50-share NSE Nifty climbed 83.15 points to 8767. The broader markets outperformed benchmarks, up more than one percent.

About 1565 shares have advanced, 892 shares declined, and 179 shares are unchanged on the BSE.

The government presented Economic Survey 2014-15 in parliament. The government says it remains committed to fiscal consolidation.

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