The brokerage said it expects the committee headed by NK Singh to relax the next year's fiscal deficit target to 3 to 3.5 per cent of GDP from 3 per cent.
The report, released on Monday by the Business and Sustainable Development Commission, said pressure on business to become a "responsible social actor" was likely to grow.
Refuting allegations of interference by an RBI union, the finance ministry today said the government fully respects independence and autonomy of the Reserve Bank of India.
December 19 was the last time the RBI gave any information on how much of the demonetised currency was back. Even the tally on new notes circulated are not available.
"The Chinese government has been very hospitable towards the NDB, enabling us to set up and operate the bank in a very short time," Kamath said.
In a letter, they said autonomy and image of RBI has been "dented beyond repair" due to mismanagement and termed appointment of a senior Finance Ministry official as a "blatant encroachment" of its exclusive turf of currency management.
Oil imports were valued at $7.645 billion during December 2016 which was 14.61 per cent higher than oil imports valued at $6.670 billion in December 2015, trade data released by Commerce and Industry Ministry showed.
Merchandise exports grew 5.72 per cent year-on-year to $23.88 billion last month, according to government data.
PM Modi on November 8 abolished old 500 and 1,000-rupee notes in a bid to root out corruption and force the nation away from its cash habit to digital transactions.
The Central Action Plan 2016-17 has fixed the target to collect 20 per cent of the net demand raised during the year.
The Reserve Bank of India recommended the move, which was accepted by the cabinet and announced by PM Modi on Nov. 8, Power Minister Piyush Goyal told parliament in November.
16 out of 22 industry groups in the manufacturing sector have shown positive growth during the month of November 2016 as compared to the corresponding month of the previous year.
Consumer prices rose by an annual 3.41 percent last month, their slowest pace since November 2014, government data showed.
Gujarat Deputy Chief Minister Nitin Patel on Wednesday announced that 24,385 IIs were signed after marathon meetings.
The Government has already garnered Rs 23,500 crore by divesting its stakes in PSUs so far in the current fiscal.
The government has been pushing hard to get India's credit rating upgraded. But due to high debt to GDP ratio of the country, international ratings agencies like Moody's and S&P have so far refused upgrade India's rankings.
The action plan will also take into account the impact of demonetisation on the economy, especially on informal sector.
Fitch Ratings has downgraded India's growth outlook to 6.9 per cent for 2016-17 from the earlier 7.4 per cent due to "uncertainty" over the benefits of demonetisation.
The Finance Minister hoped that the critical issues of dual control and cross-empowerment in the GST will get resolved over the next few weeks.
Mr Patel said India needed to ensure its medium-term consumer-prices based inflation target of 4% is "secured on a durable basis" while touting the importance of "low and stable inflation", hewing closely to his previous comments on the subject.