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Home>> Highlights of Economic Survey 2008-09

Highlights on Economic Survey of India 2008-09

The Economic Survey of India 2008-09 released by the Government of India:

  • Economic growth decelerates to 6.7 per cent in 2008-09 compared to 9 per cent in 2007-08 and 9.7 per cent in 2006-07.

  • Per capita growth at 4.6 per cent.

  • Deceleration in growth spread across all sectors except mining and quarrying; agriculture growth falls from 4.9 per cent in 2007-08 to 1.6 per cent 2008-09.

  • Manufacturing grows at 2.4 per cent, slowdown attributed to fall in exports and a decline in domestic demand.

  • Global financial meltdown and economic recession in developed economics major factors in India�s economic slowdown.

  • Investment remains relatively buoyant, ratio of fixed investment to GDP increased to 32.2 per cent in 2008-09 compared to 31.6 per cent in 2007-08.

  • Fiscal deficit to GDP ratio stands at 6.2 per cent.

  • Credit growth declines in the later part of 2008-09 reflecting slowdown of the economy in general and the industrial sector in particular.

  • Increased plan expenditure, reduction in indirect taxes, sector specific measures for textile, housing, infrastructure through stimulus packages provides support to the real economy.

  • Merchandise export grows at a modest 3.6 per cent in US Dollar terms while overall import growth pegged at 14.4 per cent.

  • A large domestic market, resilient banking system and a policy of gradual liberalisation of capital account to help early mitigation of the adverse effect of global financial crisis and recession.�

  • Sharp dip in the growth of private consumption a major concern at this stage.

  • Medium to long-term capital flows likely to be lower as long as the de-leveraging process continues in the US economy.

  • Revisiting the agenda of pending economic reforms imperative to renew the growth momentum.

    More on Economic Survey

     GDP growth will slow down to 8.7% for 2007-08.

     Economic Survey for 2007-08: Major Highlights    on Fiscal     Deficit.

     Economic Survey Report (2007 � 2008): Focus on FDI.

     Economic Survey Report 2007-2008: Inflation.

     Economic Survey Report 2007-2008: Exports.

  • India Inflation Rate
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