Economic Survey 2010-11 Highlights

  • Economy to grow at 8.6% in 2010-11 and 9 % in the next fiscal.
  • India's forex reserves rose $1.97 bn to $300.63 bn for the week ended February 18.
  • The infrastructure sector needs a Rs.41 lakh cr investment in the 12th Plan period.
  • Gross Fiscal Deficit stands at 4.8% of GDP, down from 6.3% last year; FY11 revenue gap seen 3.8% of GDP.
  • Exports in April-December 2010 up 29.5%; imports up 19%; trade gap narrowed to $82.01bn in Apr-Dec 2010.
  • Inflation is expected to be 1.5% higher than what it would be if the economy were not on growth path.
  • Finance Minister says that persistently high inflation and soaring crude oil prices in the international markets are the major areas of concern and might adversely affect Indian economy.
  • Chief Economic Adviser says that India's growth story in FY12 may be adversely impacted if crude oil prices keep surging.
  • Food inflation, higher commodity prices and volatility in global commodity markets cause of concern; to check food inflation, the government should improve delivery mechanisms by strengthening institutions and addressing corruption

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