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.