The Finance Ministry presents the Economic Survey in the parliament every year, just before the Union Budget. It is the ministry's view on the annual economic development of the country.
Here are the some of the highlights of Economic survey 2009-10:
- Economy posted a remarkable recovery expected to grow at 7.2 per cent in 2009-10 against 6.7 per cent in 2008-09.
- Economy likely to grow by up to 8.75 per cent in 2010-11.
- Full recovery; return to 9 per cent growth in 2011-12.
- India world's 2nd largest wireless network with 525.1 million mobile users
- Manufacturing growth more than doubled to 8.9 per cent in 2009-10 from 3.2 per cent in 2008-09.
- India 10th largest gold holding nation at 557.7 tonnes or about 6 per cent of total foreign exchange reserves.
- Exports in April-December 2009 down 20.3 per cent.
- Imports in April-December 2009 down 23.6 per cent.
- Farm & allied sector production falls 0.2% in 2009-10.
- Need serious policy initiatives for 4% agriculture growth.
- Gross fiscal deficit pegged at 6.5 pc of GDP in 2009-10.
- Trade gap narrowed to USD 76.24 billion in April-December 2009.
- Per capita income increased to 5.3 per cent in 2009-10 from 3.7 per cent in 2008-09.
- Bank credit grows by 13.9 per cent on year-on-year basis. Non-food bank credit recorded an increase of 8.7 per cent on financial year basis till January 15, 2010
- Economic Survey suggested gradual roll back of stimulus steps unveiled in the wake of the global financial meltdown.
- During the year 2009-10, 4.34 crore households have been provided employment under the National Rural Employment Guarantee Scheme (NREGS).
- FIIs investment in equity market rose to Rs 83,424 crore in 2009 compared to withdrawals of Rs 52,987 crore in 2008.
- The total foreign exchange reserves increased by $31.5 billion in 2009-10 fiscal, from $252 billion at the end of March 2009 to $283.5 billion in December 2009.
- Under the National Rural Health Mission (NRHM), which was launched in 2005, infant mortality rate (IMR) is expected to fall below 30 in every 1,000 live births by 2012.The current IMR stands at 53, substantially lower than the figure of 80 in 1991.
- The Indian pharmaceutical industry has become the third largest in world in terms of volume and ranks 14th in terms of value at over Rs 1 lakh crore.
- The Dubai debt crisis is likely to have "some impact" on India's exports and imports as the gulf region is the country's largest trade partner.
- Given the uncertain global context, the Government did not fix an export target for 2009-10, instead the Foreign Trade Policy (FTP) 2009-14 set the objective of an annual export growth of 15 percent with an export target of US$ 200 billion by March 2011.
