Prepare exit strategy from fiscal stimulus, it says.
New Delhi: Following are the highlights of the annual Economic Survey for the current fiscal tabled by the Finance Minister Pranab Mukherjee in the Lok Sabha on Thursday:
- Gross domestic product expected to grow 8.25 percent - 8.75 percent in 2009-10
- Economic growth during next fiscal may breach 9 percent
- Government should free grain stocks if food prices rise
- Delay in market release of imported sugar led to high prices
- Calibrate exit strategy from fiscal stimulus
- Centre, States need to begin fiscal consolidation, cap debt levels
- Poverty levels too high for growing nation like India
- Food subsidy should be given to households, instead of routing through public distribution system
- Poor families should be given food coupons to buy food at discount from any shop
- Reduce excise duty to boost exports
- Liberalise foreign investment norms in education, healthcare sectors
- Sustaining current levels of domestic petroleum prices not viable
- Expenditure restraint can help contain deficit at budgeted levels
- High inflation due to supply-side bottlenecks
- Growth in telecom to continue with monthly additions exceeding 17.6 million connections
- Share of central government expenditure on social services up by 19.46 per cent in current fiscal
- Foreign exchange reserves rises to $31.5 billion in current fiscal to $ 283.5 billion till end December 2009
- Balance of Payment situation improves due to surge in capital flows and rise in foreign exchange reserves, accompanied by rupee appreciation
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