Highlights of Economic Survey 2008

The highlights of the Economic Survey 2007-08 presented by Finance Minister P. Chidamabaram in the Lok Sabha Thursday:

1. Indian economy to top $1 trillion this fiscal at market exchange rate

2. Economy projected to grow 8.7 percent in 2007-08

3. Increased activity at stock markets, key indices giving returns of around 38 percent

4. Domestic investment and savings drive growth

5. Inflation projected to decline to 4.1 percent



6. Fiscal deficit to decline to 3.3 percent

7. Revenue deficit to decline to 1.5 percent

8. Gross tax GDP ratio to rise to 11.8 percent

9. Revenue expenditure grows 17 percent, higher than target of 5.4 percent

10. Concern: infrastructure constraints

11. Concern: slowdown in consumer goods sector

12. Concern: loss of dynamism in agriculture and allied sectors

13. Fundamentals continue to inspire confidence

15. Investment climate full of optimism

16. Concern: Rupee appreciation

17. 100 percent foreign direct investment (FDI) in home appliances, rural agricultural banks

18. 51 percent FDI in rural health

19. Some FDI in retail trade

20. Concern: Labour force growing faster than employment growth

21. Challenge: Maintaining 9 percent GDP growth

Indo-Asian News Service