New Delhi, Feb 25 (Inditop.com) 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
