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PMEAC Released Economic Outlook for 2010-11

The Prime Minister's Economic Advisory Council (PMEAC) on 23 July 2010 released the Council's ‘Economic Outlook for 2010-11' to the media.

Oct 9, 2010 17:40 IST

The Prime Minister's Economic Advisory Council (PMEAC) on 23 July 2010 released the Council's ‘Economic Outlook for 2010-11' to the media. The report was earlier submitted to the PM on 22 July 2010. The council projected an economic expansion of 8.5 per cent for the current fiscal which would be backed by a ‘substantial jump' in farm sector growth. The projection of the “jump” in the farm sector is based on the assumption of a normal monsoon and higher at 9 per cent in 2011-12. The council however cautiond that the high growth momentum would not be sustainable unless short and medium-term policy initiatives are in place to tackle high inflation, low productivity in agriculture and the deficit in physical infrastructure.