Macro Eco survey for 2015-16 |
CURRENCY* Rupee`s value must be fair, avoiding strengthening; fair value can be achieved through monetary relaxation* India needs to prepare itself for a major currency readjustment in Asia in wake of a similar adjustment in China* Gradual depreciation in rupee can be allowed if capital inflows are weakTAXES* Proposes widening tax net from 5.5% of earning individuals to more than 20%* Tax revenue expected to be higher than budgeted levels in FY15/16* Easiest way to widen the tax base would be not to raise exemption thresholds* Favours review and phasing out of tax exemptionsBANKING & CORPORATE SECTOR* Estimated capital requirement for banks likely around Rs 1.8 trillion by 2018/19
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