ECONOMIC SURVEY 2009-10

• Economic survey optimistic on growth
• Current fuel prices not fiscally sustainable
• expenditure control needed to control deficit
• Power, coal seeing a revival
• Infra capacity need to be accelerated
• Expect revenues of Rs 820 to 850 Crs in FY10
• Timely off-loading of food stocks need urgent attention
• Rationalise port service charges
• Lower peak custom duty to 7.5% from 10%
• Monetary measures must ensure credit growth
• Lower than budgeted non taxed revenue expected
• Medium term prospects of Indian economy really strong
• Major decline in consumption expenditure growth in FY10
• To give higher share to states despite fiscal strain
• States to get 1.5% more: Pranab
• To compensate states on revenue loss when GST rolled out
• Local bodies to also get share of central taxes
• Accepted major recommendations of 13th Financial Panel
• Food inflation is at present hovering close to 18%
• Moots direct food subsidy via food coupons to households
• Survey favours making available food in open market
• Survey favours monthly ration coupons usable anywhere for poor
• Fiscal deficit may be cut to 5.5%
• Gas output up 52.8 per cent to 50.2 billion cubic meters with RIL starting production
• Trade gap narrowed to USD 76.24 bn in April-December
• India 10th largest gold holding nation at 557.7 tonnes
• Large decline in customs, excise expected
• Tighten FRBM clauses for future relaxations
• Overall revenue transfers to state at 39.5%
• Services sector growth rate at 8.7%
• Virtually every second Indian has access to phone
• Fundamental policy changes needed for trade
• Wants credit available at reasonable rates on time for private sector to invest in agriculture
• Small shortfall in revenue recept in FY10
• Overall farm GDP decline of 0.2% in FY10
• Investment growth still below GDP growth rate
• India not immune to global prices
• Auction for 3G spectrum to provide existing and foreign players to bring in new technology and innovations
• India world's 2nd largest wireless network with 525.1 million mobile users
• Slowdown in infrastructure that began in 2007, arrested
• Government initiates steps to boost private investment in agriculture
• Credit needed for private investment in agriculture
• Imports in April-December 2009 down 23.6 per cent
• Exports in April-December 2009 down 20.3 per cent
• Gross fiscal deficit pegged at 6.5 pc of GDP in 2009-10
• Favours making available food in open market
• Hype on Kharif crop failure helped hoarding
• Poor rainfall stopped prices falling
• Delay in releasing imported sugar pushed up prices
• Farm and allied sector production falls 0.2 per cent in 2009-10
• Rising food inflation a major concern
• Growth in private investments
• Growth has to quicken
• Watch and withdraw stimulus
• Risks of double dip recession seen
• Economy likely to grow up to 8.75%
• Inflation may spread, warns survey
• V-shaped recovery seen
• Economic recovery weak
• India's GDP growth rate in 2009-10 was 7.2%
• India's GDP to return to 9% in 2011-12
• High double digit food inflation in 2009-10
• Possible spurt in global commodity
• India can become world's fastest growing economy in 4 years
• Hike in fuel prices will impact inflation
• Pranab tables economic survey in Parliament
• The fiscal deficit for the current fiscal year is expected to shoot up to 6.8% of GDP
• The economic survey is expected to project around 7.5% growth rate for the current fiscal year
• Finance Minister Pranab Mukherjee to table the Economic Survey in Parliament today