India''s GDP growth is expected at 7.2% in FY10, according to the Economic Survey. This matches the advance estimate of FY10 GDP announced by the CSO recently, but is short of the RBI''s 7.5% growth projection for the current fiscal year. Industrial growth is seen at 8.2% in FY10.
The Economic Survey said that GDP growth in FY11 is seen at 8.5% (+/-0.25%). On full recovery, India''s GDP growth will exceed 9% in FY12, it added.
Need to watch the progress of the economic recovery before unwinding the fiscal stimulus, the Economic Survey stated, adding that the recovery does provide an opportunity for a gradual withdrawal of the stimulus.
Concerns on high inflation will remain over the next few months, the Economic Survey said. High food prices are a risk for general inflation, it said, adding that any hike in fuel prices will impact headline inflation.
Supply side pressure on inflation will prevail for the near term, the Survey said, adding that India is not immune to global price movements.
The following are some key InfoGraphics on the Economic Survey
Tax Revenue as Proportion of Gross Tax Revenue - 2009-10
% Change in Export and Import Growth
Foreign Exchange Reserves (US$bn)
Fiscal Deficit as % of GDP
Per Capita Net National Income (factor cost at current prices) in Rs
Sectoral Share in Gross Domestic Capital Formation(2008-09)
Sectoral Share in domestic savings (2008-09)