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Highlights Economic Survey 2007-2008
- 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
