The Economic Survey today predicted that India would bounce back to a high nine per cent growth in 2011-12 on the way to becoming world's fastest growing economy in four years. The Survey says, it is entirely possible for India to move into the rarefied domain of double digit growth.<br/><br/>The document, which assesses the state of the economy, warned that high food prices will rise further over next few months and criticised the food management policies that have led to unacceptably high prices of items like sugar. The pre-budget Survey, 2009-10 was presented by Finance Minister Pranab Mukherjee in Parliament today.<br/><br/>The survey maintains that India can not be immune to global price situations. It also pointed out that international crude prices almost doubled and it may not be viable for long from the fiscal side to hold its impact on oil prices in the country.<br/><br/>It maintains rates of savings and investments are likely to rise further. The manufacturing sector has shown buoyancy in recent months and recorded 9.2 per cent growth in the second quarter.<br/><br/>The growth rate index of industrial production in December 2009 touched 16.8 per cent. The Survey says there is also a substantial pickup in corporate earnings and profit margins.<br/> <br/>The General Budget for 2010-11 will be presented in the Lok Sabha by the Union Finance Minister, Mr. Pranab Mukherjee tomorrow. News Services Division of All India Radio will broadcast a special live bilingual discussion in Hindi and English from 10.30 a.m. <br/><br/>The programme will be followed by the relay of the Finance Minister's budget speech from 10.55 a.m. As soon as the budet is presented, News Services Division of All India Radio will broadcast two special budget bulletins in English and Hindi. <br/><br/>The English bulletin can be heard from 1230 to 1245 and in Hindi from 1245 to 1300 hours. The discussion on the budget will continue after the special bulletins till 2 p.m. It can be heard on Rajdhani Channel and additional frequencies.
News On AIR | February 26, 2010 8:38 AM
Economic Survey predicts nine per cent growth, General Budget to be presented on Friday