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Highlights of the Economic Survey

New Delhi, Feb 25 (Calcutta Tube) Following are the highlights of the annual Economic Survey for the current fiscal tabled by the Finance Minister Pranab Mukherjee in the Lok Sabha Thursday:

– Total water in reservoirs 90.48 billion cubic metres, which is lower than the 10-year average

– Improve food production, productivity and stock management

– Adequate stock of foodgrain to meet requirements under welfare schemes during current fiscal

– Outlook for India’s trade sector in 2010 has brightened

– Bank credit to the commercial sector, shows revival since November 2009

– Proposal to double the target of rural houses to 12 million through the Indira Awaas Yojana in the next five years

– Stimulus package major cause for lower indirect receipts

– Employment increases by 500,000 in July-September quarter compared to first quarter of current fiscal

– Core industries, infrastructure services show recovery signs in the middle of overall industrial growth

– Gross domestic product expected to grow 8.25-8.75 percent in 2009-10

– Economic growth during next fiscal may cross 9 percent

– Government should free grain stocks if food prices rise

– Delay in market release of imported sugar led to high prices

– Calibrate exit strategy from fiscal stimulus

– Centre, states need to begin fiscal consolidation, cap debt levels

– Poverty levels too high for growing nation like India

– Food subsidy should be given to households, instead of routing through public distribution system

– Poor families should be given food coupons to buy at discount from any shop

– Reduce excise duty to boost exports

– Liberalise foreign investment norms in education, healthcare sectors

– Sustaining current levels of domestic petroleum prices not viable

– Expenditure restraint can help contain deficit at budgeted levels

– High inflation due to supply-side bottlenecks

– Growth in telecom to continue with monthly additions exceeding 17.6 million connections

– Share of central government expenditure on social services up by 19.46 percent in current fiscal

– Foreign exchange reserves rise to $31.5 billion in current fiscal to $283.5 billion till end December 2009

– Balance of payment situation improves due to surge in capital flows and rise in foreign exchange reserves, accompanied by rupee appreciation

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