Highlights - ECONOMIC SURVEY - 2008-09

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

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..... nt in 2007-08 to 1.6 per cent 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 .....

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..... in 2008-09 compared to 31.6 per cent in 2007-08. · Fiscal 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 thro .....

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..... ugh stimulus packages provides support to the real economy. · Merchandise export 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 recessio .....

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..... n. · Sharp dip in the growth of private consumption a major concern at this stage. · Medium to long-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 Tax Management India - taxmanagementindi .....

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..... a - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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