User Login Signup Now
Username :
Password    :
Forgot Password?

Highlights of Economic Survey 2008-09 (Second Lead)

New Delhi, July 2

Salient features of a wish list in the Economic Survey for 2008-09 released by Finance Minister Pranab Mukherjee in parliament Thursday:

- Cut fuel, food and fertiliser subsidy leakages

- Raise foreign investment cap in insurance to 49 percent

- Allow 100 percent foreign investment in health, weather insurance

- Raise foreign investment cap in defence production to 49 percent and in high tech defence to 100 percent

- Raise Rs.25,000 crore from divestment every year

- Sell 5-10 percent in profitable non-Navratnas

- List unlisted state-owned firms, divest at least 10 percent equity

- Auction loss-making state-owned firms

- Rationalise dividend distribution tax to avoid double taxation

- Review customs duty exemptions

- Remove fringe benefit tax

- Remove commodity and security transaction taxes

- Limit subsidy on cooking gas to six-eight cylinders per household

- Kerosene subsidy only for non-electrified, non-cylinder homes

- Introduce new income tax code

- Provide fertiliser subsidy directly to farmers

- Target zero fiscal deficit

- Eliminate inverted duty structure

- Convert specific textile taxes to ad valorem

- Lift price control on all drugs except essentials

- Roll back excess liquidity once growth picks up

- Decontrol sugar and insurance industries

- Auction spectrum and make it freely tradable

Taking stock of the country's economic condition, the survey said India could grow by around 7.75 percent in 2009-10 if the US economy "bottoms out" by September.

Among other observations it made on the economy are:

- Economic growth decelerates to 6.7 percent in 2008-09

- Per capita growth at 4.6 percent

- Agricultural growth falls to 1.6 percent from 4.9 percent in 2007-08

- Manufacturing sector grows at 2.4 percent

- Ratio of fixed investment to GDP increases to 32.2 percent

- Fiscal deficit stands at 6.2 percent

- Merchandise export grows at 3.6 percent in dollar terms

- Overall import growth at 14.4 percent

- Social, agriculture and infrastructure sectors need boost

- Rural demand still strong.

Last updated on Jul 2nd, 2009 at 15:15 pm IST--IANS


Possibly related news:
Enter Your Name and Email below and Post your comment
NameEmail:
Comment:
News Search

Other News Headlines

Kerala's Kollam Technopark to get Rs.49 crore from Nabard
Thiruvananthapuram, Nov 21

The National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs.49.53 crore for the development of the Kollam Technopark, an IT park coming up in Kollam, Kerala.

Bangalore's farm fair promotes organic farming
Bangalore, Nov 21

Experts at the ongoing Krishi Mela or agricultural fair here are trying hard to convince farmers of Karnataka about the benefits of switching to organic farming, which is high yielding and eco-friendly.

Haryana gets SEZ proposals worth Rs.50,000 crore
New Delhi, Nov 21

Haryana has received more than 100 proposals for setting up special economic zones (SEZs), which will bring investments worth Rs.50,000 crore and create 1.5 million jobs, a senior government official said Saturday.

Fog delays unlikely this winter as airlines train more pilots
New Delhi, Nov 21

Unlike previous years, flight operations at the Delhi airport will not be hit by fog during this winter as most domestic careers have enough trained pilots who can fly aircraft even in low visible conditions, airlines officials said.

Himachal wants to learn agricultural lessons from Israel
New Delhi, Nov 21

Himachal Pradesh is keen to learn the irrigation and agricultural practices of Israel to boost fruit and crop productivity in the hill state.

Recently Commented Articles

Sun TV Network to launch new game show
i am very eager to participate in deal or no deal for registration procedure pls call:9488561903
saranya on 21/11/09 at 06:01 pm

Sun TV Network to launch new game show
i am very interested to participate in deal or no deala for registration procedure please call...
jerin on 21/11/09 at 02:58 pm

Five killed in private jet crash near Minsk
your service is very modern and development Russian world
usa private jet service on 21/11/09 at 02:34 pm

Sun TV Network to launch new game show
I am very interested to participate in deala no deala game show in sun tv. pls send me the...
SHANKAR CD on 21/11/09 at 12:24 pm

'Xtrme City' about Mumbai mafia, families, romance: Paul Schrader (Interview)
this is very good. i like this
sanin on 21/11/09 at 11:49 am

Latest Forum Topics

When We Do Not Know How to Pray!
[FONT="Arial"]Late one evening, a poor farmer on his way back from the market found himself without...
21/11/09 at 02:20 pm< | 0 Comment(s)

Intelligent people
[COLOR=Navy]thats tru i guess. and that seems to be the reason we see so many stories that pictures...
21/11/09 at 02:17 pm< | 4 Comment(s)

The Star Fish Story
[FONT="Arial"]Once a man was walking along a beach. The sun was shining and it was a beautiful day....
21/11/09 at 02:11 pm< | 0 Comment(s)

Ageing parents - Things 1 need to know for an emergency
[quote=bindunair;3721][FONT=Arial][FONT=Arial] [LIST] [*]It only takes a few minutes to collect and...
21/11/09 at 02:07 pm< | 3 Comment(s)

Risks
[FONT="Arial"]To laugh is to risk appearing the fool, To weep is to risk appearing...
21/11/09 at 01:58 pm< | 0 Comment(s)

Thought of the day!
All life is an experiment. The more experiments you make the better.
21/11/09 at 01:54 pm< | 85 Comment(s)

Word association game..
Doctor
21/11/09 at 01:52 pm< | 145 Comment(s)

Change 1 Letter..
Nail -> Mail Is rearranging the letters allowed?
21/11/09 at 01:51 pm< | 125 Comment(s)