A flagship annual document of the Ministry of Finance, Government of India, Economic Survey 2015–16 reviews the developments in the Indian economy over the previous 12 months, summarizes the performance on major development programmes, and highlights the policy initiatives of the government and the prospects of the economy in the short to medium term. This document is presented to both houses of Parliament during the Budget Session. With detailed statistical data covering all aspects of the economy—macro as well as sectoral—the report provides an overview of the following issues: Economic Outlook, Prospects, and Policy Challenges; Fiscal Framework; 'Wiping Every Tear From Every Eye' : The JAM Number Trinity Solution; The Investment Climate: Stalled Projects, Debt Overhang and The Equity Puzzle; Credit, Structure and Double Financial Repression: A Diagnosis of the Banking Sector; Putting Public Investment on Track: The Rail Route to Higher Growth; What to Make in India? Manufacturing or Services?; A National Market for Agricultural Commodities - Some Issues and Way Forward; From Carbon Subsidy to Carbon Tax: India’s Green Actions; The Fourteenth Finance Commission (FFC) - Implications for Fiscal Federalism in India?; State of the economy and Public Finance; Monetary management and financial intermediation; External sector and Service sector ; Prices, agriculture and food management; Industrial, corporate and infrastructure performance ; Climate change and sustainable development; and Social infrastructure, employment and human development.