The Economic Survey of India 2010-11: Highlights

The Economic Survey of India 2010-11 was presented by the Union Finance Minister of India Pranab Mukherjee on 25 February 2011, in the Parliament. Following are the highlights of Economic Survey 2010 – 11:

•Economy expected to grow at 8.6% in 2010-11 and 9 per cent in next fiscal

•9.7% growth of GDP at market prices

•Inflation expected to be 1.5 per cent higher than what it would be if we were not on growth turnpike

•Forex Reserves estimated at US$ 297.3 bn

•Trade gap narrowed to US $ 82.01 bn in April-December 2010

•Agriculture likely to grow at 5.4% in 2010-11;

•Production of foodgrains estimated at 232.1 mn tonnes

•Industrial output grows by 8.6% ; manufacturing sector registers 9.1%

•Exports in April-December 2010 up by 29.5 %

•Imports in April – December 2010 up by 19%

•Growth broad based with rebound in Agriculture, continued momentum in manufacturing and private services

•Fundamentals strong with Savings & Investments up, exports rising rapidly and inflation falling

•59% rise in Net Bank Credit

•Social programme spending stepped up by 5 percentage points of GDP over past 5 years

•Gross Fiscal Deficit stands at 4.8% of GDP down from 6.3% last year.