The growth in the services sector is expected to remain pretty much at similar levels as was reported last time. The sector is likely to grow by 6.9 per cent in FY15.

The prognosis made by the economists with regard to exports and current account deficit reflected no imminent risks. The CAD to GDP ratio for FY 15 was projected at 1.9 per cent. They also felt that the macro-economic fundamentals are gradually strengthening and the overall health of the economy is set to improve going ahead.

The economists also identified priority areas for the government: developing a world class infrastructure; provision of uninterrupted power supply; resolving labour issues; reducing cost and duration of land acquisition; minimising procedural hassles and fast tracking approvals and development of innovation hubs with world class amenities including lab and testing facilities.

Besides, the economists said, government should enhance credit to small and medium enterprises; simplify taxation policies to bring down the time and cost involved in filing returns and introduce Goods & Services Tax at the earliest.

Also Read:

Sensex Regains 27,000-Mark

Major Offences, Repeat Violations Can't Be Settled: Sebi