Highlights: The Economic Survey of India 2011-12

The economic survey 2011-12 was presented in the parliament by
theFinance Minister Pranab Mukharjee on 14 March 2012. According to
the economicsurvey 2011-12 the Indian GDP pegged at 6.9% in the fiscal
year 2010-11. Figurefor the agriculture, services and industry sector
stood at 2.5%, 9.4% and 4-5%respectively. The survey, which is
presented annually by the Ministry ofFinance, of government of India,
maintained that the Indian economy despiteglobal slowdown remained
exuberant and was among the fastest growing economiesof the world.

Given below are the highlights of economic survey 2011-12

• Growth Rate is estimated to be 6.9%. Outlook for growth
andstability is promising as the real GDP growth expected to pick up
to 7.6% in2012-13 and 8.6% in 2013-14.
• At 2.5 %, Agri sector performed well. Servicessector grew by 9.4
%, its share in GDP grew up to 59%.
• Industrial sector growth stood at 4-5 %
• Inflation on WPI which was on a upward trajectory inthe initial
part of the year witnessed a sharp slow down by the year-end.
• WPI food inflation dropped from 20.2% in February2010 to 1.6% in
January 2012. The low inflation rate is likely to improvepromote
investment
• India remains among the fastest growing economies of theworld.
Country's sovereign credit rating rose by a substantial 2.98 percent
in2007-12.
• Fiscal consolidation on track - savings &capital formation
expected to rise.
· Exports grew 40.5% in the first half of this fiscal and
imports grew by30.4%.
· The trade deficit stood at 8% of the GDP.
· Forex reserves enhanced - covering nearly the entire external
debt stock
• Central spending on social services goes up to 18.5%this fiscal
from 13.4% in 2006-07.
• MNREGA coverage increases to 5.49 crore householdsin 2010-11.
• Sustainable development and climate change concernson high priority.