Highlights of Economic Survey 2007-08

Economic Survey

The Economic Survey of India is published by Central Statistical Organization which consists of general economic health of the country. It focusses on various micro and macro economic sectors with complete statistical data and analysis. Each year such survey is conducted to show the status of economic scenario of the country.

Highlights of Economic Survey 2007-08

· Economy retards to 8.7% in the year 2007-08
· Agricultural growth at 2.6 pc in 2007-08 from 3.8 pc in 2006-07
· It appears difficult to sustain 9% rate of economic growth
· Inflation recorded to be 4.4 pc in 2007-08
· Retardation this year was expected
· Government plans an aim of 9 pc GDP growth during 11th Five Year Plan (2007-2012)
· Investment climate “full of optimism”
· It has been observed that labor force is rising at a greater pace than the employment growth
· 3 manufacturing sector to rise at 9.4 pc in present financial year which is less from 12 pc in 2006-07
· Unemployment rate rises by 1pc in five years to 2005
· Subsidies might see an increment by Rs 6,550 cr over Budget Estimate
· Fuel and power constitute the main subscriber to inflation
· The Budget figured for subsidies was Rs 51,247 cr
· Inflation primarily decided by chief non-food items
· Losses over off-Budget subsidies
· Inflation was found to be less than 5.6 pc last year