Economic Survey optimistic on India's growth

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Pranab Mukherjee
New Delhi, Jul 2: The Finance Minister, Pranab Mukherjee tabled the Economic Survey for 2008-09 in the Parliament on Thursday, Jul 2. The survey that touches on every aspect of Indian economy is optimistic on growth and proposes policy changes in areas like FDI.

The survey that suggests that the country can fully open its retail markets to the foreign investors. Making a strong case for the FDI in retail, survey says that can be started off with the food sector. As of now, India allows 51 pc FDI in single brand stores, and 100 pc in wholesale cash and carry model.

Economic Survey 2008-2009, Announced on 2nd July 2009

Speaking on the economic growth, the survey noted that due to the global economic crisis, the Indian economy slowed down by 6.7 per cent in 2008-09. However, on an optimistic note, India's growth potential is seen to be about 7 to 7.5 pc in the coming year.

Apart from this, the survey gives details on the fall in the industrial output and negative export growth. The government has announced three stimulus packages to help the country stay afloat in the times of recession.

The Economic Survey provides the government's assessment of the economy, outlines the problems facing the country and suggests measures for dealing with them.

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