Finance Minister P Chidambaram will present the state of economy in his pre-budget Economic Survey to be tabled in Parliament on February 28, followed by the Budget for 2008-09 the next day.
The survey, which is a critical government policy document presented annually ahead of the Budget, is likely to focus on the UPA government's achievements in the field of social sector and rise in savings, investments apart from efforts to sustain the GDP growth rate at close to nine per cent.
After posting a scorching 9.6 per cent rate of economic growth in 2006-07, the Indian growth story was seen slowing down in 2007-08.
The impact of US slowdown on thte Indian economy, rupee appreciation against the dollar and rising global international crude oil and food prices are expected to find a key mention in the Economic Survey.
But a booming internal market for goods and services, thanks to spur in domestic savings and investment coupled with capital inflow, is likely to see growth at close to the nine per cent mark in this fiscal.
The survey is likely to be upbeat on the performance of the economy, despite the sub-prime chill in the US.
However, on the agriculture front, the survey may express concern about stagnation in foodgrain and oilseeds production and the need to raise public investment in farm sector to attain four per cent targeted growth in the sector. |