Thursday, February 25, 2010

Economic Survey says India will grow by 9 pc!

Highlights of Economic Survey 2009-10:
  • Economy likely to grow by up to 8.75 per cent in 2010-11
  • Full recovery; return to 9 per cent growth in 2011-12
  • Broad recovery gives scope for gradual stimulus roll back
  • High double-digit food inflation in 2009-10 major concern
  • Signs of food inflation spreading to other sectors
  • Farm & allied sector production falls 0.2 per cent in 2009-10
  • Need serious policy initiatives for 4 per cent agriculture growth
  • Moots direct food subsidy via food coupons to households
  • Favours making available food in open market
  • Favours monthly ration coupons usable anywhere for poor
  • Gross fiscal deficit pegged at 6.5 pc of GDP in 2009-10
  • India 10th largest gold holding nation at 557.7 tonnes
  • Exports in April-December 2009 down 20.3 per cent
  • Imports in April-December 2009 down 23.6 per cent
  • Trade gap narrowed to USD 76.24 bn in April-December.
  • 32.5 per cent savings & 34.9 per cent investment (of GDP in 2008-09) put
    India in league of world's fastest growing nations.
  • Government initiates steps to boost private investment in agriculture
  • Wants credit available at reasonable rates on time for private sector to invest in agriculture
  • Slowdown in infrastructure that began in 2007, arrested
  • Domestic oil production to rise 11 per cent in 2009-10
  • Gas output up 52.8 per cent to 50.2 billion cubic meters with RIL starting production
  • India world's 2nd largest wireless network with 525.1 million mobile users
  • Virtually every second Indian has access to phone
  • Auction for 3G spectrum to provide existing and foreign players to bring in new technology and innovations.

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