Advocating raising fuel price with rise in input cost, the pre-Budget
Economic Survey on Thursday asked the government to pay a fixed amount
per litre as diesel subsidy so as to cut subsidy outgo.
The global recession only partially succeeded in slowing the Indian
economy thanks to the robust growth in services at nearly 10 per cent in
2010-11 and 9.4 per cent this fiscal, says the latest Economic Survey.
The Economic Survey for 2011-12 tabled by Finance Minister Pranab Mukherjee in Parliament projected a 7.6 per cent growth for the next fiscal beginning April 1.
Subdued inflow of foreign funds not only led to a decline in Indian
markets but also contributed to the sharp fall of the rupee, the
Economic Survey for 2011-12 said.