Private investment inflow expected to boost GDP: Firstcall

Government would like to continue with this practice of extending Government subsidy in cash, thereby bringing all subsidy related liabilities into Government’s fiscal accounting.

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India among the first few countries in the world to implement a broad-based counter-cyclic policy package to respond to the negative fallout of the global slowdown.

Conscious effort made to avoid issuing bonds to oil and fertilizer companies.

A major concern during the second half of 2009-10 has been the emergence of double digit food inflation. Government has set in motion steps, in consultation with the State Chief Ministers, which should bring down the inflation in the next few months and ensure that there is better management of food security in the country.

It would be for the first time that the Government would target an explicit reduction in its domestic public debt-GDP ratio.

Government has introduced the Companies Bill, 2009 in the Parliament to replace the existing Companies Act, 1956, which will address issues related to regulation in corporate sector in the context of the changing business environment.

A Nutrient Based Subsidy policy for the fertiliser sector has been approved by the Government and will become effective from April 1, 2010.

An apex level Financial Stability and Development Council to be set up with a view to strengthen and institutionalise the mechanism for maintaining financial stability.

First challenge before the government is to quickly revert to high GDP growth path of 9%.

Expects 10% economic growth in the near future.

Significant private investment inflow expected to boost GDP. Click here for more