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Economic Survey 2006-2007

Highlights of Economic Survey presented in Parliament on 27th February 2007

Economy projected to grow at 9.2% in 2006-07, building on 9% growth in 2005-06.

Steady progress on the infrastructure front.

Sharp rise in the rate of investment in the economy.

Trade, hotels, transport and communication services continue to grow at double-digit rates for the fourth successive year.

Momentum in growth in financial services maintained with a growth of 11.1% in 2006-07.

Increase in savings rate expected with higher growth of economy.

Fiscal consolidation satisfactory.

Agricultural growth pegged at 2.7% with total foodgrains production in 2006-07 at 209.2 million tons, up from 208.6 million tons in 2005-06.

Sustaining high growth with moderate inflation, inclusive nature of growth and effective Government intervention in critical areas like social sector.

Need to re-visit multiplicity of poverty alleviation schemes.

Alternative mechanisms for subsidy delivery for income transfers to truly needy suggested.

FDI rises by 98.4% in first half of 2006-07.

Foreign exchange reserves touch $ 180 billion.

Buoyancy in exports maintained.

Government making efforts to ease pressure on prices.

>>> Macroeconomic Overview

>>> Issues and Priorities

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