Highlights of Economic Survey for the fiscal year 2010-11

The following are the important highlights of Economic Survey 2010 – 11:

• Economy expected to grow at 8.6% in 2010-11 and 9 per cent in next fiscal
• 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
• Agriculture likely to grow at 5.4% in 2010-11;
• 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%
• Trade gap narrowed to US $ 82.01 bn in April-December 2010
• 59% rise in Net Bank Credit
• Social programme spending stepped up by 5 percentage points of GDP over past 5 years
• 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
• Production of foodgrains estimated at 232.1 mn tonnes
• Forex Reserves estimated at US$ 297.3 bn
• Gross Fiscal Deficit stands at 4.8% of GDP down from 6.3% last year.