Economic survey upbeat, predicts 7 pct growth

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Agencies Tags : budget 2009, economic survey, highlights Posted: Thursday , Jul 02, 2009 at 1250 hrs

The Economic Survey suggested aggressive financial sector reforms.

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* Reform petroleum (LPG, Kerosene), fertiliser and food subsidies to reduce leakages and ensure targeting

* Limit LPG subsidy to a maximum of 6-8 cylinders per annum per household

* Phase out kerosene supply-subsidy by ensuring that every rural household has a solar cooker and solar lantern

* Review customs duty exemptions and move to a uniform duty structure to eliminate inverted duties

* Implemnet GST from April 1, 2010

* Rapid operationalisation of UID Authority within 3 months

* Agriculture growth fell sharply to 1.6 per cent in 2008-09 from 4.9 per cent

* Exports grew at 3.4 per cent to 168 billion dollar in 2008-09 from 163 billion dollar in previous fiscal

* Imports grew at 14.3 per cent to $287.75 bn from $251.65 bn

* Trade balance deteriorated to $119.05 bn from $88.52 bn.

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economic growthBy: subbarao | 03-Jul-2009 Reply | Forward Dear Sir: Economic growth of 10 % in India means 20% destruction of the country of its natural beauty, 30% abuse of natural resources by those involved in the projects and 70% opportunitiy for persons initialed and completed the projects to make money for themselves.

Will India grow at 7 pcBy: jayaprakash | 02-Jul-2009 Reply | Forward After considering all these hike in petrol prices and taxes. will India grow at 7 per cent for the fiscal year.. or not... Moreover the hike in price of petrol is just a sample of increase of price hike.. but they are more hike in price which is yet to come...

Nothing wrongBy: arun kumar | 02-Jul-2009 Reply | Forward This will reduce consupmtion of fuel - subsequently will reduce our import bill, this money could be used for other devlopmental works.

very sadBy: lagesh | 02-Jul-2009 Reply | Forward rulers again forget our country is a 60% agri dependend

Good MoveBy: Jacob Mudanthangili, Boston | 02-Jul-2009 Reply | Forward Disinvestment is the best option for India's growth. Encouraging competition will encourage companies to provide best service in an affordable price. It will also help the tax payer. Raising fuel charge is not a sin but distributing it cheap is. It not only encourage people to burn more oil and increase environmental pollution. Public transportation is the key of saving energy and Indian Railways deserve great credit for providing cheap transportation to our people. Investments in public transportation will be a great service to our next generation. Hope railways will get more money in next budget for modernization. Don't blame governments for looking for new avenues of taxing. It is necessary to fund government programs and projects. Borrowing from international financial institutions and spending for social welfare program is an old story. We have to find our own tax money to serve our people and implement developmental projects.Seven percent growth is very ambitious.

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