India Economic Survey 2009 – Analysis and Full Report

Indian Economic Survey 2009

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.

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

Challenges, Policy Response and Medium-Term Prospects

Fiscal Developments and Public Finance

Prices and Monetary Management

Financial Intermediation and Markets

External Sector

Agriculture and Food Management

Energy, Infrastructure and Communications

Human Development, Poverty and Public Programmes

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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Author: Arun Prabhudesai

Arun Prabhudesai is founder / chief editor at trak.in. He jumped the Entrepreneurship bandwagon in early 2008 after a long 13 year stint in I.T Industry. You can follow him on twitter @trakin or get in touch with him at admin-at-trak-dot-in or 91.9822575676.

India Economic Survey 2009 – Analysis and Full Report

Tagged as: Economic Analysis of India, Economic growth in India, Economic growth survey 2009, Economy of India, Fiscal deficit of India, gdp of india, India figures, india growth in future, Indian Budget analysis, Indian economic challenges, Indian Economic Highlights, Indian Economy in 2008 2009, Inflation in India, stock market in India, telecommunication in India

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{ 6 comments… read them below or add one }

1 Avenir labs July 3, 2009 at 10:32 am

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.

2 Sumedh July 3, 2009 at 1:29 pm

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…

3 Arun Prabhudesai July 3, 2009 at 2:25 pm: 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!

4 Sumedh July 3, 2009 at 6:21 pm

Yup…agreed…

I was just frustrated by hearing new cases of money siphoning from govt. projects…especially here in UP…

5 sourav July 5, 2009 at 10:16 pm

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.

6 aruna kumar nishanka September 9, 2009 at 7:36 pm

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.