Thursday, February 25, 2010

Highlights of the annual Economic Survey


- 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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