New Delhi, Aug 1 (IANS) Highlights of the Prime Minister’s Economic Advisory Council report on India’s economy released Monday:
— Country’s growth pegged at 8.2 percent for 2011-12
— Inflation to ease to 6.5 percent only by the end of this fiscal
— Important role for fiscal policy to contain demand pressure
— RBI will follow tight monetary policy till inflation shows definite signs of decline
— Agriculture to grow at 3 percent as monsoon to remain more-or-less normal
— Industry to expand by 7.1 percent, slower than the rate of 7.9 percent last year
— Services to grow at a faster rate of 10 percent
— Global economic and financial situation unlikely to improve
— Important to increase investments if economy is to grow at 9 percent
— Investment rate projected to rise to 36.7 percent in 2011-12
— Current account deficit projected at $54 billion or 2.7 percent of GDP
— Merchandise trade deficit at $154 billion or 7.7 percent of GDP
— Foreign direct investment set to rise to $35 billion in current fiscal
— Foreign institutional investor inflows to slip to $14 billion, less than half of last year
