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Thursday, July 2, 2009

Economic Survey of India 2008-2009 summary

The Economic Survey of India 2008-09 summary
The fallout of the global financial crisis on the Indian economy has been palpable in the industry and trade sectors and has also permeated the services sector. The economy continues to face wide-ranging challenges— from improving its social and physical infrastructure to enhancing the productivity in agriculture and industry and addressing environmental concerns.
At the same time, the Indian economy has shock absorbers that will facilitate early revival of growth. First, the banks are financially sound and well capitalized. The foreign exchange reserves position remains comfortable and the external debt position has been within the comfort zone. For the complete reading please visit

The Economic Survey while recommending a disinvestment target of Rs 25,000 crore annually, said that the government should sell a minimum 10 per cent stake in all unlisted public sector enterprises and auction those that can't be revived.
On the growth of Indian economy in the current fiscal, Ficci said the Survey has offered a confident outlook for the Indian economy in 2009-10 that it should grow by average 7 per cent to 7.5 per cent.

Presented by the Finance Minister, the economic survey is basically what the Govt wants to do over the next few years, not just in the forthcoming Budget but in the ensuing months.
How will the Govt ensure that fertiliser subsidy go to the farmer directly? How will the Govt know which home has no electricity or LPG to give them kerosene subsidy.


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