Annual Economic Survey for the current fiscal tabled by the Finance Minister Pranab Mukherjee in the Lok Sabha Thursday
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:
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- Gross domestic product expected to grow 8.25 percent - 8.75 percent in 2009-10
- Economic growth during next fiscal may breach 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 food 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 per cent in current fiscal
- Foreign exchange reserves rises 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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