India’s Economic Survey to be tabled Thursday

February 27th, 2008 - 1:42 pm ICT by admin  

New Delhi, Feb 27 (IANS) A report on the state of India’s economy with suggested policy prescriptions in areas ranging from government finances to external trade will be tabled in parliament Thursday by Finance Minister P. Chidambaram. The Economic Survey for 2007-08, authored by the Chief Economic Advisor Arvind Virmani, comes against the backdrop of India’s growth slowing down this fiscal after posting a 9.6 percent expansion in 2006-07 and fears of US recession.

Some of the key issues expected to be addressed by the survey include measures to tame inflation, arrest the slowdown in export growth, tackle the impact of rising rupee and address the issue of ballooning global crude oil prices.

It is also expected to present a robust picture of the economy and outline the achievements of the United Progressive Alliance (UPA) government, giving it a political touch ahead of the upcoming polls for the Lok Sabha and many states.

It will also give some insight into the thinking in the finance ministry ahead of the national budget for 2008-09 that will be presented by Chidambaram in the lower house Friday.

On this count, the high growth in government revenues, especially the 41 percent increase in direct taxes, should give him enough room to present what is likely to be his last full budget for the UPA government and his personal seventh.

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