Eco Survey: Task - Growth without high inflation

Following are the highlights of the Economic Survey FY07 presented by Finance Minister P Chidambaram in Parliament today:

* GDP to grow 9.2%, touch Rs 28,44,000 crore in 2006-07

* Inflation at 6.7% on February 3 a matter of concern

* Govt's top priority: Growth without high inflation

* Risks: volatile oil prices, delays in WTO talks

* Risks: Global macroeconomic imbalances

* Priorities: Making growth inclusive

* Priorities: Fiscal prudence, high investment

* Priorities: Improving govt intervention in critical areas such
as education and health

* Priorities: Subsidies to be targeted

* Agriculture to grow 2.7%, share in GDP dips to 18.5%

* Industry to grow at 10%, share in GDP up to 26.4%

* Services to grow at 11.2%, share in GDP rises to 55.1%

* 10th plan average GDP growth at 7.6% vs targeted 8%

* Average inflation in 52 weeks ending Feb 3 at 5%

* Food items, wheat, pulses, sugar driving inflation

* In industry, mining, gas and power issues of concern

* Current account deficit at $11.7 billion in H-1 of FY07

* Exports up 36.3% to $89.5 bn in April-Dec 2006-07

* Capital flows strong, FDI up 98.4% in Apr-Sept 2006-07

* FIIs sellers in H-1, but likely to be positive in H-2

* Core sector growth 8.3% vs 5.5% in Apr-Dec 2006-07

* Infrastructure to require $320 bn in 11th Plan

* Public sector to fund 60% of infrastructure

* Fiscal deficit budgeted at 2.8% in 2006-07

* Tax-GDP ratio rises to 11.2% FY07 vs 10.3% in FY06

* Personal income tax mop up rose 30.3% in Apr-Dec FY07

* Share of direct taxes in total revenues grows to 47.6%

* Stock markets buoyant, market cap rises to 91% of GDP

* Rs 161,769 crore raised from IPOs in 2006

* Mutual funds raise Rs 104,950 cr in 2006, up four-fold

* Corporate tax collections up 55.2% in Apr-Dec FY07

* Tourism earnings cross $6.6 bn in 2006

* Gross domestic savings rate up at 32.4% in 2005-06

* Gross domestic investment rate at 33.8% in 2005-06

* Gross fixed capital formation rises to 28.1% in 2005-06

* Savings of private corporates rise sharply at 8.1%

* High savings rate to continue

* Govt final consumption expenditure up 11.5% in FY06

* Saving-investment gap turns negative at 1.3%

* Govt to miss 2007 target of elementary education for all

* Employment rate grows to 2.5% in 1999-2005

* Decline in organised sector jobs

* Unemployment rate up to 3.1% in 2004-05

* Poverty down at 22% in 2004-05 vs 26.1% in 1999-2000

* Population to stabilise around 2045