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.
Contents
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.