New Delhi: Finance Minister Pranab Mukherjee said Friday that the economic growth during the current fiscal could exceed 7.2 per cent projected by the Central Statistical Organisation (CSO).
Unveiling the budget for 2010-11 in Lok Sabha, he said, "final figures may turn out to be higher" as the economy has done well in the second quarter ending September 2009 recording a growth rate of 7.9 per cent.
The economic growth figures, released by the CSO earlier in the day, said economy grew by 6 per cent in the third quarter ending December 2009.
Following the global crisis, India's growth rate slipped to 6.7 per cent during 2008-09 from over nine per cent during the three preceding years.
Following are the highlights of the Budget speech:
* India weathered economic crisis well
* Need to review stimulus imparted to econony
* Need to review public spending and mobilise resources
* High food inflation due to bad monsoon & drought conditions
* Steps being taken to tackle price rise
* Economy in far better position than it was eight years ago
* First challenge is to quickly revert to 9% high GDP growth
* Second to make growth more inclusive and consolidate gains
* Impressive recovery in past few months
* Economy stabilised in Q1 of 2009 itself
* 18.5% manufacturing growth in Dec highest in two decades
* Faster recovery seen in the coming months
* Figures for merchandise exports for January encouraging
* Food security strengthened
* Govt's focus on services to economically backward sections
* Hope to implement Direct Tax Code from April 2011
* Status paper on public debt within six months
* Endeavour to implement General Sales Tax in April 2011
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