By IANS,
New Delhi : Highlights of the Economic Survey 2011-12 tabled in parliament by Finance Minister Pranab Mukherjee Thursday:
– GDP growth estimated to be 6.9 percent in 2011-12
– Outlook for growth and stability is promising with real GDP growth expected to pick up to 7.6 percent in 2012-13 and 8.6 percent in 2013-14
– Farm sector growth pegged at 2.5 percent for 2011-12
– Services sector to grow at 9.4 percent
– Services sector share in GDP to go up to 59 percent in the fiscal ending March 31
– Industrial growth pegged at 4-5 percent, expected to improve as economic recovery resumes
– Inflation on WPI was high but showed clear slow down by the year-end. This is likely to spur investment activities leading to positive impact on growth
– WPI food inflation dropped from 20.2 percent in February 2010 to 1.6 percent in January 2012
– Calibrated steps initiated to rein-in inflation on top priority
– India remains among the fastest growing economies of the world
– Fiscal consolidation on track – savings and capital formation expected to rise
– Exports grew by 40.5 percent in the first half of this fiscal and imports grew by 30.4 percent
– Foreign trade performance to remain a key driver of growth
– Forex reserves enhanced – covering nearly the entire external debt stock
– Central spending on social services goes up to 18.5 percent this fiscal from 13.4 percent in 2006-07