Highlights - ECONOMIC SURVEY - 2008-09

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..... Highlights - ECONOMIC SURVEY - 2008-09
News and Press Release
Dated:- 2-7-2009

· Economic growth decelerates to 6.7 per cent in 2008-09 compared to 9 per cent in 2007-08 and 9.7 per cent in 2006-07. · Per capita growth at 4.6 per cent. · Deceleration in growth spread across all sectors except mining and quarrying; agriculture growth falls from 4.9 per cent in 2007-08 to 1.6 per ce .....

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..... nt 2008-09. · Manufacturing grows at 2.4 per cent, slowdown attributed to fall in exports and a decline in domestic demand. · Global financial meltdown and economic recession in developed economics major factors in India's economic slowdown. · Investment remains relatively buoyant, ratio of fixed investment to GDP increased to 32.2 per cent in 2008-09 compared to 31.6 per cent in 2007-08. · F .....

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..... iscal deficit to GDP ratio stands at 6.2 per cent. · Credit growth declines in the later part of 2008-09 reflecting slowdown of the economy in general and the industrial sector in particular. · Increased plan expenditure, reduction in indirect taxes, sector specific measures for textile, housing, infrastructure through stimulus packages provides support to the real economy. · Merchandise export .....

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..... grows at a modest 3.6 per cent in US Dollar terms while overall import growth pegged at 14.4 per cent. · A large domestic market, resilient banking system and a policy of gradual liberalisation of capital account to help early mitigation of the adverse effect of global financial crisis and recession. · Sharp dip in the growth of private consumption a major concern at this stage. · Medium to l .....

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..... ong-term capital flows likely to be lower as long as the de-leveraging process continues in the US economy. · Revisiting the agenda of pending economic reforms imperative to renew the growth momentum.
News - Press release - PIB .....

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