Highlights of the Economic Survey

• Improve food production, productivity and stock management
• Adequate stock of foodgrain to meet requirements under welfare schemes during current fiscal
• Outlook for India’s trade sector in 2010 has brightened
• Bank credit to the commercial sector, shows revival since November 2009
• Proposal to double the target of rural houses to 12 million through the Indira Awaas Yojana in the next five years
• Stimulus package major cause for lower indirect receipts
• Employment increases by 500,000 in July-September quarter compared to first quarter of current fiscal
• Core industries, infrastructure services show recovery signs in the middle of overall industrial growth
• Gross domestic product expected to grow 8.25-8.75 percent in 2009-10
• Economic growth during next fiscal may cross 9 percent
• Government should free grain stocks if food prices rise
• Delay in market release of imported sugar led to high prices
• Calibrate exit strategy from fiscal stimulus
• Centre, states need to begin fiscal consolidation, cap debt levels
• Poverty levels too high for growing nation like India
• Food subsidy should be given to households, instead of routing through public distribution system
• Poor families should be given food coupons to buy at discount from any shop
• Reduce excise duty to boost exports
• Liberalise foreign investment norms in education, healthcare sectors
• Sustaining current levels of domestic petroleum prices not viable
• Expenditure restraint can help contain deficit at budgeted levels
• High inflation due to supply-side bottlenecks
• Growth in telecom to continue with monthly additions exceeding 17.6 million connections
• Share of central government expenditure on social services up by 19.46 percent in current fiscal
• Foreign exchange reserves rise to $31.5 billion in current fiscal to $283.5 billion till end December 2009
• Balance of payment situation improves due to surge in capital flows and rise in foreign exchange reserves, accompanied by rupee appreciation