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Highlights of the PMEAC review

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 3:02 AM IST

The Prime Minister's economic advisory panel today projected 7.5 - 8% growth rate for the next fiscal and said the country can achieve a higher economic expansion if the global environment turns favourable.

Following are the highlights of the Review of Economy, 2011-12, released by the Chairman of Economic Advisory Council to the Prime Minister, C Rangarajan, today:

  • Economy to grow by 7.5 - 8% in 2012-13
  • Growth rate estimated at 7.1% in 2011-12
  • Inflation to ease to 5-6% in next fiscal
  • Keep vigil on food prices, farm output, exchange rate
  • Adjustments of petrol prices needed to cut subsidy
  • Fiscal deficit a matter of concern, road map required
  • Current account deficit to be 3% of GDP
  • Global economic condition to remain under pressure
  • Farm sector growth likely to be 3% in 2011-12
  • Mining to report negative growth in current fiscal

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First Published: Feb 22 2012 | 1:43 PM IST

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