Following are the highlights of the economic agenda unveiled by President A P J Abdul Kalam at the joint sitting of Parliament on Thursday:
- GDP growth likely to cross 8% in 2005-06.
- Inflation modest despite high global crude prices.
- Savings rate up at 29% and investment rate near 31%.
- India to be made IT hardware manufacturing hub.
- Dabhol plant to start in 2006; five mega power plants coming up.
- Rs 175,000 crore (Rs 1,750 billion) investment for national highways.
- Civil Aviation Policy on the anvil.
- Chennai, Kolkata airports to be modernized.
- Rs 20,000 crore (Rs 200 billion) investment for rail freight corridor.
- $10 billion FDI (foreign direct investment) in petrochem investment regions.
- FDI policy to be rationalised, bottleneck to be removed.
- NREG Act (National Rural Employment Guarantee Act) to provide safety net to rural poor.
- Bharat Nirman to createbetter rural infrastructure.
- Electricity to every village by 2009.
- Roads, telephone, water, irrigation for rural India.
- 60 lakh (6 million) houses for rural poor.
- Basic services to urban poor.
- Metro rail for Mumbai and Bangalore.
- Rs 14,000 crore (Rs 140 billion) package for reviving cooperatives.
- Common market for agriculture.
- Need to amend Essential Commodities Act, APMC Act.
- National Horticulture Mission with Rs 2,300 crore (Rs 23 billion) outlay.
- National Rainfed Area Authority being considered.
- Set up a National Biotechnology Regulatory Authority.
- National Bio-diesel Programme to be launched in FY07.
- 10-year National Manufacturing Initiative in the offing.
- Emphasis on labour-intensive sectors.
- Focus on textiles, leather, food processing, IT hardware and auto components.
- Attention to IT, BPO, tourism, education, health.
- Better management of public finances, cutting debt.
- Efficient management of PSUs.
- Carry forward reforms.
