Eco Survey sees 8.75 percent growth

A full recovery from the impact of the global economic slowdown indicated

PTI | February 25, 2010

File photo of Pranab Mukherjee addressing a pre-budget meeting with the members of Society for Law Firms
File photo of Pranab Mukherjee addressing a pre-budget meeting with the members of Society for Law Firms

Finance Minister Pranab Mukherjee on Thursday tabled the Economic Survey 2009-10 that projects a growth of up to 8.75 percent in 2010-11 and indicates a full recovery from the impact of the global economic slowdown.

Highlights of the survey:

* 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% in 2009-10

* Need serious policy initiatives for 4% agriculture growth

* Moots direct food subsidy via food coupons to households

* Favours making available food in open mkt

* 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% savings & 34.9% investment (of GDP in 2008-09) put India in league of world's fastest growing nations.

* Govt initiates steps to boost private investment in agri * 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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