Highlights of Prime Minister’s Economic Advisory Council report

August 1st, 2011 - 2:25 pm ICT by IANS  

New Delhi, Aug 1 (IANS) Highlights of the Prime Minister’s Economic Advisory Council report on India’s economy released Monday:

– Country’s growth pegged at 8.2 percent for 2011-12

– Inflation to ease to 6.5 percent only by the end of this fiscal

– Important role for fiscal policy to contain demand pressure

– RBI will follow tight monetary policy till inflation shows definite signs of decline

– Agriculture to grow at 3 percent as monsoon to remain more-or-less normal

– Industry to expand by 7.1 percent, slower than the rate of 7.9 percent last year

– Services to grow at a faster rate of 10 percent

– Global economic and financial situation unlikely to improve

– Important to increase investments if economy is to grow at 9 percent

– Investment rate projected to rise to 36.7 percent in 2011-12

– Current account deficit projected at $54 billion or 2.7 percent of GDP

– Merchandise trade deficit at $154 billion or 7.7 percent of GDP

– Foreign direct investment set to rise to $35 billion in current fiscal

– Foreign institutional investor inflows to slip to $14 billion, less than half of last year

Related Stories

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |

Subscribe