Economic Survey 2008-9

A flagship annual document of the Ministry of Finance, Government of India, Economic Survey 2008-09 reviews the developments in the Indian economy over the past 12 to 18 months, summarizes the performance on major development programmes, and highlights the policy initiatives of the government and the prospects of the economy in the short to medium term. With detailed statistical data covering all aspects of the economy-macro as well as sectoral-the report provides an overview of the following issues: state of the Indian economy; challenges, policy responses, and medium-term prospects; fiscal policy and monetary management; financial intermediation and the role of markets; external sector, balance of payments, and trade; agriculture and industrial development; energy, infrastructure, and communications; human development and public programmes. The Survey highlights that the fallout of the global financial crisis on the Indian economy has been palpable in the industry and trade sectors and has also permeated the services sector. While some segments, especially the export-oriented industries have suffered, the Indian economy has resiliently withstood the adverse global economic situation and posted a growth rate of 6.7 per cent in 2008-09. The Survey also identifies the wide-ranging challenges faced by the Indian economy and suggests short- and long-term policy measures for sustaining growth and improving governance and the human development profile of the country through a process of inclusive development.