The year 2016-17 was a year which witnessed several economic upheavals and changes. Global uncertainties have increased with Brexit and newly formed US regime. Similarly on the national front demonitisation has shaken the economy and slowed down the short term growth trend. The growth prospects of the State have been affected by several forces. The State is moving ahead with the thirteenth plan at a time when five year plans have been done away with and focussing on revamping agriculture and traditional industries. Over the years, the fiscal space of State government has also seen lot of transformations. These transformations and changes will shape the policies in the coming years.