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Economic Survey 2010: Good economic future but rising oil prices
The Economic Survey presented by the Finance Minister reflects a very good picture of the Indian Economy despite several constraints during the year 2010-2011, and a high rate of inflation.
THE INCREASE in social spending by 5 per cent is a welcome step but there is a great need to attract FDI and also an intensive effort is required to make capital investment to build the economic capacity of the economy.
 
In the wake of rising oil prices, internationally, and political crises in Egypt and Libya, the two large exporters of oil may put additional pressure on the Indian economy in the next fiscal. This may also make our projected growth rate of 9 per cent in 2011-2012 unattainable if such crisis continues as India is importing 70 per cent of the oil for its consumption.
 
India through various measures need to target inflation and as it effects most people of the country.

 
While fiscal discipline is of concern, the Indian government should not shy from making large investment in the infrastructure sector across the country.
 
Also, the fields of education, health, and civic infrastructure require urgent attention of the central and state governments.
 


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