ECONOMIC SURVEY 05-06: Higlights

Following are the highlights of Economic Survey 2005-06 tabled in the Parliament today.

• Economic growth projected at 8.1% in 2005-06
  
  
• Agriculture growth at 2.3%
  
  
• Foodgrains output up 5 million tonne to 209 million tonne
  
  
• Inflation rate projected at 5% in current fiscal
  
  
• In medium-term, inflation likely to fall
  
  
• Interest rates may harden
  
  
• Savings rate up at 29.1% of GDP
  
  
• Investment rate up at 31% of GDP
  
  
• Industrial growth at 7.8% (April-December)
  
  
• Fiscal and revenue deficit targets to be met
  
  
• Tele-density increases to 11.32%
  
  
• Current account deficit surfaces after a gap of 3 years
  
  
• Trade deficit increases
  
  
• Bold policy reforms in oil sector required
  
  
• Policy required for speedy development of infrastructure
  
  
• Indian industry needs to be unburdened from high taxes
  
  
• Forex reserve down by $2 bn to $139.2 bn (till January 06)
  
  
• 5.56 crore kisan credit crads issued till November 2005
  
  
• Exports grow by 18.9% (April-January)
  
  
• Imports' growth at 26.67% between April-January
  
  
• FDI inflow at $3.2 billion (April-September)
  
  
• Rs 1,72,000 cr investment required for national highways
  
  
• Rs 40,000 crore required for airports
  
  
• Rs 50,000 cr investment needed for ports
  
  
• A substantial share of investment for infrastructure development to come from private sector
  
  
• Potential to absorb $150 bn FDI in the next 5 years
  
  
• Power sector remains main impediment to growth
  
  
• GDP loss due to power shortage pegged at Rs 3,00,000 cr
  
  
• Caution over formation of Sixth Pay Commission.