Here are the highlights of the Economic Survey 2012 that will put forth the challenges that Pranab Mukherjee faces ahead of the Union Budget 2012, to be presented tomorrow.
Highlights:
* Growth estimated at 6.9% for the Current financial year
* Growth estimated at 7.6% for FY’12 –’13 and 8.6% of FY’13-‘14
* Industrial Growth at 4-5% for current Financial year
* Calibrated steps to curb inflation top priority
* Fiscal consolidation on track
* Agriculture and allied sectors to grow at 2.5% for FY’11-’12
* India remains one of the fastest economies of the World
* Need for rapid fiscal consolidation
* Service sector at 9.4% despite slowing GDP growth
* Services Sector proved to be the savior for the Indian economy
* Industrial sector expected to re bound next Financial Year
* Renewed focus on supply side measures essential for price stability
* Inflation to touch 6.5-7% by month end 2012
* Indian banks maintain robustness amid Eurozone crisis
* Survey suggests that FDI in Multi brand retail to address infrastructure gap