Press Information Bureau

Government of India

Ministry of Finance

25-February-2011 12:12 IST

Highlights of Economic Survey 2010 – 11

Following are the highlights of Economic Survey 2010 – 11:

• Economy expected to grow at 8.6% in 2010-11 and 9 per cent in next fiscal

• Growth broad based with rebound in Agriculture, continued momentum in manufacturing and private services

• Fundamentals strong with Savings & Investments up, exports rising rapidly and inflation falling

• Agriculture likely to grow at 5.4% in 2010-11;

• Industrial output grows by 8.6% ; manufacturing sector registers 9.1%

• Exports in April-December 2010 up by 29.5 %

• Imports in April – December 2010 up by 19%

• Trade gap narrowed to US $ 82.01 bn in April-December 2010

• 59% rise in Net Bank Credit

• Social programme spending stepped up by 5 percentage points of GDP over past 5 years

• 9.7% growth of GDP at market prices

• Inflation expected to be 1.5 per cent higher than what it would be if we were not on growth turnpike

• Production of foodgrains estimated at 232.1 mn tonnes

• Forex Reserves estimated at US$ 297.3 bn

• Gross Fiscal Deficit stands at 4.8% of GDP down from 6.3% last year.

DSM/RM/AS - 1

Economic growth projection signals broad-based rebound with strengthened macroeconomic indicators and reduced fiscal imbalance concerns. Economic growth is projected to accelerate with a broad-based rebound across agriculture, manufacturing and private services, supported by rising savings and investment, rapid export growth, moderating inflation and a substantial increase in net bank credit. Fiscal and external indicators improved, with a narrowed fiscal deficit, sizable foreign exchange reserves and a contracted trade gap amid higher imports, alongside stepped-up social programme spending as a share of GDP.