Forecasts out from the India's fin ministry

  • economy has made considerable progress but challenges remain
  • govt to stick to budgeted fiscal deficit target of 3.9%/GDP
  • fiscal outlook for 2016/17 looks challenging
  • GDP growth powered only by pvt consumption. Public investment is a cause for concern
  • oil prices not likely to rise soon or dramatically
  • India needs supply-side reforms
  • expects some improvement in exports next year

The current EM powerhouse rightly expressing notes of caution