Health of economy to be unveiled

A day before Finance Minister P C Chidambaram unrolls his Union Budget, the department of Economic Affairs is scheduled to release the Economic Survey.

A day before Finance Minister P C Chidambaram unrolls his Union Budget, the department of Economic Affairs is scheduled to release the Economic Survey.

The Survey is a comprehensive review of the Indian economy for 2005-06. The survey will also include indications about the Budget, which will be tabled in the Parliament on Tuesday.

Apart from reflecting on the impact of the economic policies followed by the Government and the state of economic development in the country, it will also paint a macro picture of what can be expected out of fiscal year 2006-07.

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Going by this year’s projections, the service sector continues to be the major contributor to the economic growth.

While last year, it recorded a nine per cent growth, this year it’s expected to grow by 11 per cent.

Similarly, the manufacturing sector is expected to register a growth of nine per cent. Whereas the growth on the agriculture front is sluggish, not comparing favourably with the other sectors.

The Central Statistical Organisation (CSO) has pegged the advance estimates of growth for 2005-06 at 8.1 per cent.