February 25, 2011

Highlights of the economic survey 2010-11

For the sake of record, I am giving below some of the highlights of Economic Survey 2010 – 11. presented in Parliament on 25th February, 2022:

• The economy us expected to grow at 8.6% in 2010-11 and 9 per cent in next fiscal.
• Economic fundamentals: strong with savings and investments up, exports rising rapidly and inflation falling.
• Growth has been broad-based with rebound in agriculture, continued momentum in manufacturing and private services.
• Agriculture is likely to grow at 5.4% in 2010-11.
• Industrial output grows by 8.6% ; manufacturing sector registers 9.1% growth.
• Exports in April-December 2010 are up by 29.5 %.
• Imports in April – December 2010 are up by 19%.
• Trade gap has narrowed to US $ 82.01 bn in April-December 2010.
Net Bank Credit rises 59%/
• Social programme spending has been stepped up by 5% of GDP over the past 5 years.
• 9.7% growth of GDP achieved [at market prices].
• Inflation is expected to be 1.5% higher than what it would be 'if we were not on growth turnpike'.
• Production of foodgrains us estimated at 232.1 mt.
• Forex reserves are estimated at $297.3 bn.
• Gross Fiscal Deficit stands at 4.8% of GDP down from 6.3% last year.

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