Economic Survey Highlights 2005-06

By: EconomyWatch   Date: 30 June 2010

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  • 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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