ECONOMIC SURVEY HIGHLIGHTS, EFFECT OF SURVEY ON SHARE MARKET, INFLATION ON MARCH 2012, EXPERTS VIEW ON RBI'S MID QUARTER POLICY
THE BSE SENSEX plunged more than 250 points in the midday session trade as the RBI Monetary policy review dampened markets sentiment by keeping rates unchanged.
Highlights:
- Growth estimated at 6.9% for the Current financial year
- Growth estimated at 7.6% for FY’12 –’13 and 8.6% of FY’13-‘14
- Industrial Growth at 4-5% for current Financial year
- Calibrated steps to curb inflation top priority
- Fiscal consolidation on track
- Agriculture and allied sectors to grow at 2.5% for FY’11-’12
- India remains one of the fastest economies of the World
- Need for rapid fiscal consolidation
- Service sector at 9.4% despite slowing GDP growth
- Services Sector proved to be the savior for the Indian economy
- Industrial sector expected to re bound next Financial Year
- Renewed focus on supply side measures essential for price stability
- Inflation to touch 6.5-7% by month end 2012
- Indian banks maintain robustness amid Eurozone crisis
- Survey suggests that FDI in Multi brand retail to address infrastructure gap
