Economic Survey 2005-2006
- Economy projected to grow at 8.1% in 2005-06.
- Modest inflation in spite of spiraling global crude prices.
- Rapid growth in exports and imports.
- Faster development of physical infrastructure.
- Progress in fiscal consolidation.
- Industry and services propel overall growth of the economy.
- Industrial resurgence driven by manufacturing and construction sectors.
- Broad-based Services sector growth.
- Total foodgrains production projected to increase by 2.3% from 204.6 MT in 2004-05 to 209.3 MT in 2005-06.
- Continued reduction in the incidence of poverty.
- Pick up in investment and acceleration in growth strengthened in 2005-06.
- Virtuous cycle of growth and savings likely to continue for some years to come.
- Policy framework to harness the dormant talent pool of Indian work-force and entrepreneurs to position the economy on a sustained high-growth trajectory suggested.
- Speedy provision of quality infrastructure through appropriate policy stimulus highlighted.
- A reversal of the slowdown in the mining sector, particularly coal stressed.
- Reform of the tax system favoured.
- Survey calls for improving the quality of expenditure, better productivity in expenditure and greater growth dividend through deepening the reform process that could harness higher savings and investment.
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