Government of India today released its much awaited Economic Outlook for 2011-12 that pegs the India’s GDP growth rate for 2011-12 at 8.2% as compared to 8.5% registered last year. Given the current adverse global circumstances and high Inflation to boot, expected growth rate of 8.2% looks quite good!
Important highlights of Economic Outlook 2011-12
- Agriculture grew at 6.6% in 2010-11. This year’s monsoon is projected to be in the range of 90 to 96 per cent, based on which Agriculture sector is pegged to grow at 3.0% in 2011-12!
- Industry grew at 7.9% in 2010-11. Projected to grow at 7.1% in 2011-12
- Services grew at 9.4% in 2009-10. Projected to grow at 10.0% in 2011-12
- Investment rate projected at 36.4% in 2010-11 and 36.7% in 2011-12
- Domestic savings rate as ratio of GDP projected at 33.8% in 2010-11 & 34.0% in 2011-12
- Current Account deficit is $44.3 billion (2.6% of GDP) in 2010-11 and projected at $54.0 billion (2.7% of GDP) in 2011-12
- Merchandise trade deficit is $ 130.5 billion or 7.59% of the GDP in 2010-11 and projected at $154.0 billion or 7.7% of GDP in 2011-12
- Invisibles trade surplus is $ 86.2 billion or 5.0% of the GDP in 2010-11 and projected at $100.0 billion or 5.0% in 2011-12
- Capital flows at $61.9 billion in 2010-11 and projected at $72.0 billion in 2011-12
- FDI inflows projected at $35 billion in 2011/12 against the level of $23.4 billion in 2010-11
- FII inflows projected to be $14 billion which is less than half that of the last year i.e $30.3 billion
- Accretion to reserves was $15.2 billion in 2010-11. Projected at $18.0 billion in 2011-12
- Inflation rate would continue to be at 9 per cent in the month of July-October 2011. There will be some relief starting from November and will decline to 6.5% in March 2012.
GDP Growth – Actual & Projected
Check out the full Detailed pdf on Indian Economic Outlook 2011-12