Highlights of India's Economic Survey
The government tabled the Economic Survey for 2000-2001 in Parliament on Friday.
Following are highlights of the survey:
- Indian economy at difficult stage, growth problems likely in 2001-02 (April-March).
- Gross domestic product growth in 2000-01 (April-March) seen at 6.0 per cent versus 6.4 per cent in 1999-2000.
- Gaps in reforms process cloud long-term economic growth prospects.
- Reforms needed in bankruptcy and labour laws to boost industrial growth.
- The government favours market linked small savings rate.
- Current Account Deficit in 2000-01 seen at 1.5-1.7 per cent compared to 0.9 per cent in 1999-2000.
- The government favours bringing in more services under the tax net.
- Farm, allied sectors growth in 2000-01 seen at 0.9 per cent compared with 0.7 per cent.
- Foodgrains output seen sharply down at 199 million tonnes compared with record 208.9 million tones.
- Oilseeds output in 2000-01 seen sharply down at 18.6 million tones.
- The government favours total decontrol of the sugar sector.
Economic Survey 2000-2001
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