2011 Update: You can find the latest Indian Economic Outlook Report 2011-2012 here. This is the 2009 report!
The President of India released the Economic Survey 2009 in the parliament, and it has evoked mixed reaction. In this report we will bring you some of the important numbers and charts that will are important to India from the point of view of Economic growth.
Before we go into numbers let us look at the key points that came out the of the Economic Report 2009 released yesterday.
Bear in mind that Monday is the Budget day and quite a few people are looking at it as a Landmark Budget and probably a game changer for India from economic reforms perspective.
Based on my understanding, the Economic survey points towards disinvestment and heavy tax reforms, which is a great sign and a need of the hour.
Even the Indian stock Market has been range-bound over last week and just waiting in the wings for budget to be announced.
So here are some of the key points that have been suggested by the India Economy Survey 2009.
- Economy can grow around 7 percent in 2009/10. This off course, is largely dependent on how the US Economy recovers over next few months. If US economy bottoms out around December, as many analysts are expecting, India can easily look at 7% upwards growth.
- The Economy will get back to its growth path of around 9% in medium term.
- The government has shown its eagerness for Fiscal consolidation. The Fiscal deficit target is suggested to be set at 3 percent of GDP at the earliest.
- Inflation is suggested to be a non-issue moving forward.
- The Economic Survey suggested allowing the public to hold greater equity in public sector banks and aligning of voting rights in banks with equity holdings.
- Calibrated monetary policy approach is suggested for early return to high growth path.
- The Economic Survey has suggested that quality Foreign Direct Investment should be allowed to seek regulatory reforms in higher education.
I for one am having very high expectations from this year’s budget and now the with this economic survey 2009, my hopes are bolstered.
Having won a resounding victory in the Indian elections, we predicted that Prime Minister Manmohan Singh would enact sweeping reforms.
Having won a resounding victory in the Indian elections, we predicted that Prime Minister Manmohan Singh would enact sweeping reforms.
Nothing stops Manmohan Singh and other people at helm to announce sweeping reforms in this budget, they now dont have the left to worry about !
Following are the full PDF documents of the the Economic Survey Released yesterday.
State of the Economy
- Introduction
- Economic growth during 2008-09
- Aggregate demand and its composition
- Globalization of the Indian economy
- Summing-up
- Key Indicators
Challenges, Policy Response and Medium-Term Prospects
- Introduction
- Global developments and the Indian economy, 2008-09
- Some aspects of India’s recent growth dynamics and prospects
- Sustaining the growth momentum-some aspects of the policy agenda
- Summing-up
Fiscal Developments and Public Finance
- Introduction
- Central Government finances
- Economic and functional classification of Central Government Budget
- Performance of departmental enterprises of the Central Government
- Finances of State Governments
- Challenges and outlook
Prices and Monetary Management
- Introduction
- Prices
- Domestic and global scenarios
- GDP consumption deflator
- Housing price index
- Monetary developments
- Challenges and outlook
Financial Intermediation and Markets
- Introduction
- Bank credit
- Rural infrastructure development fund
- Credit to agriculture
- Financial performance of banks
- Financial institutions
- Capital and commodity markets
- Insurance and pension funds
- Challenges and outlook
External Sector
- Introduction
- Balance of payments
- Current account
- Capital account
- World merchandise trade
- India’s merchandise trade
- Services trade
- Foreign exchange reserves
- Foreign exchange rate policy
- External debt
- Direction and composition of trade
- Trade policy
- WTO negotiations and India
- Bilateral and regional cooperation
- Challenges and outlook
Agriculture and Food Management
- Introduction
- Allied sectors
- Marketing and extension
- Challenges and outlook
- Industry
- Introduction
- Developments that impacted the industrial sector
- Industrial growth by sectors
- Growth by product groups
- Sector-wise growth profile
- Central public sector enterprises
- Financial and investment by sectors
- Policy developments and programmes
- Some critical dimensions of industrial development
- Challenges and outlook
Energy, Infrastructure and Communications
- Introduction
- Overview of performance
- Transmission, trading, access and exchange
- Reforms in distribution
- Petroleum and gas
- Coal
- Railways
- Roads
- Civil aviation
- Ports
- Telecommunications
- Posts
- Urban Infrastructure
- Financing of infrastructure
- Challenges outlook
Human Development, Poverty and Public Programmes
- Introduction
- Human Development and gender situation
- Poverty and inclusive growth
- Hunger and malnutrition
- Employment
- Trend in social sector expenditure
- Social sector initiatives
- Education
- Health
- Women and child development
- Social welfare
- Social security and related programmes
- Climate change
- Outlook and challenges
Full list of Statistical Tables can be seen here
Now I am looking forward for Monday – The D-Day – “The Indian Budget day”
What are your expectations of the Budget? would love to hear what you think.
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- After young Indians, even Indian Business executives most optimistic in the world
- India’s economic growth and Rise of Consumer Market
- Doing Business in India is even tougher than in Pakistan, SriLanka or Nepal
- Is the Indian Economy heading for its finest hour?
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{ 11 comments… read them below or add one }
there is no doubt that India can maintain its growth rate as high as we think .ya Prime Minister Manmohan Singh would enact sweeping reforms.
Does budget actually have the power to have sweeping impact on the economy? Can budget solve issues such as corruption, absence of law enforcement, pathetic state of cities, pollution and poverty?
I think budgets are a media hyped event…we just hear about so many thousands of crores of investments, but see very little improvement on the ground…
May be I am being a little too negative…but grass root work is more important than allocation numbers of thousands of crores…
Sumedh,
You are right to a certain extent, but at the same time you have to understand that issues like corruption cannot be resolved in months and years, but decades. Corruption is at a grass root level, and more than government, it is us, who can curb it – but we take the easy way out.
The budget is important coz, it gives a direction which the government is taking ensure that economy is healthy. Like how much tax is collected and where is it utilized.
Take a case of dis-investment, if the PSU’s are allowed to be participated by private companies, there is lot of accountability and at the same time thousands of crores of rupees come to Government treasury, which again could be utilized for developing infrastructure etc. etc.
This is just very high level example…but thats what a Budget does. Its exactly what we do at our homes – Budget our expenses / finances. It is not a solution to all problem, but a path either towards recovery or backwards!
Yup…agreed…
I was just frustrated by hearing new cases of money siphoning from govt. projects…especially here in UP…
Present Indian Govt led by congress must look towards the benfit of the workers and to ensure their social sequrity.The Govt must not succumb to the demands of the MNCs and corporate sector which violates the rights of the workers. Govt must ensure country’s self reliance and interest that protects the cause of masses and not of industrialists whoso vested interests attracts diasters to the poorer people of the country. Govt should also ensure the labor laws to be implemented properly and punish those who dare to violate the laws of the land. Any attemts to change the labor laws has to be defeated.
it is very good that we rae the people of the country which will going to be te best growing country in the world and we are just increse at a nice and good rate . so i am completly happy n its gro wth an the prospect of all the sector and department andthe industry.
i am very happy to knew that our country growth is very good in the world. but the national corruption is the main problem in our country. we will be fight against to corruption and i wish to that our country go to over to over in the world wide.
we should’nt be happy 2 know dat indian economy is rising day by day as 2 worry about d problems we r facing in our everyday life i.e:-rising prices of household use n d most commonly of superior products which we cannot
avoid using like petrol.
d most important that corruption every where in india it should be prevented or checked out.rural devolopement needs more govt. attention
specially 2 d the chattisgarh n bihar like states.
4 every thing CENTRAL GOVT.should take initiative 2wards nthere should be no place 4 partiality with d states.
it is good for us that economic rate is resing but curreption is also resing in our country and loan fo interest rate amount is also grow day by day so we can also think how go down for interest amount and depand on ouselves. many thing we depanding to other country.
That good to find out that India still growing. Lucy US recover make India continue growing. If not India will stack at there . India still is top 3 growing market around the world.
There is no doubt that India eill keep on with its encouraging growth. The presence of working capital markets,world-class firms in important high-tech sectors, and well-entrenched democratic institutions are the three factors working for its fast growth. Hence, I strongly belive that unless there is an abrupt reversal of the process of globlization, India could possibly overtake China in the 2030′s as a global power. One thing that need due attention is the expansion of open curruption recently
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