Economic Survey

Topics: Tax, Inflation, Economics Pages: 2 (609 words) Published: September 5, 2013
CETKing Free Primers: World bank report Article on global Meltdown Highlights Of Economic Survey 2009-10 • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • 6-8 LPG cylinders funded per year High liquidity could mean inflation spiral Capital gains for the 3G spectrum has to be taxed under the IT Act FDI in Insurance and Retail sector Need to revitalise disinvestment program Government should disinvest 10 % in the unlisted PSUs Targeted fiscal deficit is at 3% of the GDP Impetrative to return to FRBM target on fiscal deficit 10-11% Advise for managing money better Asks for watching out inflation 100% foreign equity to be allowed in insurance firms of rural areas Phasing out of CIT, SIT, SBT Trade Sector of 2009 has a very unpleasant outlook with an negative growth in the world output of -1.3% Raising the0 FDI in insurance to 49% Price control on drugs to be lifted Pension bill reforms to be passed 49% FDI in defence production New Income Tax code to be introduced Phasing out the Tax Surcharges Reviewing the customs duty exemptions Government must decontrol petrol and diesel prices Private investment to be permitted in nuclear power Separate telecom licenses from spectrum allocation Agriculture sector facing challenges on various fronts Thrust on irrigation to be increased Marketing, storage and warehousing for agricultural sector to be developed Blanket fiscal stimulus not required and stimulus has to be sector specific. Attempts by RBI to maintain ample liquidity by RBI may be inflationary Auction loss making PSUs Sell 5-10% of non-profitable Navratnas Eliminate inverted duty structure Kerosene subsidy only to non-electrified, non-LPG homes Economic growth decelerates to 6.7 per cent in 2008-09 compared to 9 per cent in 200708 and 9.7 per cent in 2006-07. Per capita growth at 4.6 per cent. Deceleration in growth spread across all sectors except mining and quarrying; agriculture growth falls from 4.9 per cent in 2007-08 to 1.6 per cent...
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