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Economic Survey to Include Global Imbalances, Climate Change
Monday, 16 January 2012, 16:29 IST
New Delhi: The Finance Ministry will expand the size and scope of the annual Economic Survey, to be released sometime in March, by incorporating chapters on global imbalances, human development and climate change issues.
"We will come out with new chapters including 'India and the Globe' to give a view on the global inequalities and the country's standing," a senior finance ministry official told PTI. The customary annual Economic Survey, which is to be tabled in Parliament ahead of the Budget, is an official account of the economic developments during the course of the financial year. The Survey, which will have 14 chapters in total as against nine last year, will also showcase India growing prowess on international arena.
Focus of global issues has become important in the backdrop of growing linkages between the overseas developments and the performance of the domestic economies. Finance Minister, Pranab Mukherjee, had earlier said that India's subsidy bill during the current fiscal could exceed by 
1 lakh crore over the amount estimated in the budget, mainly on account of high prices of crude oil, fertilizer and other commodities in the global market. Besides subsidy bill, the global developments have also impacted the flow of Foreign Institutional Investors (FII) and the value of rupee, which had touched a historic low of 54.3 against dollar in December.
Moreover, sources said, India has emerged as an important player at crucial international fora dealing with economic, climate changes and other issues. The country has been playing a key role in negotiations at G-20 as well as the World Trade Organization (WTO) meetings. Facing the burnt of global downturn, the Indian economy is expected to grow at around 7-7.5 percent in the current fiscal.
The Economic Survey had projected a growth rate of about 9 percent for 2011-12. It based its optimism on recovery of the global economy and resurgence of demand and investment on the domestic front. Many global observes feel the world economy would continue to reel under the crisis that began with the fall of America's iconic investment banker Lehman Brothers in September 2008. They proved correct as the pace of economic recovery was slower than what was initially anticipated.
Socio-economic risks, such as income disparity and economic imbalances, have become the biggest concerns for industry leaders in 2012, the World Economic Forum had said in a report. The report, based on an annual survey of industry leaders and experts from across the globe, also warned of economic imbalances and social inequality risk reversing the gains of globalization.
Source: PTI
1 lakh crore over the amount estimated in the budget, mainly on account of high prices of crude oil, fertilizer and other commodities in the global market. Besides subsidy bill, the global developments have also impacted the flow of Foreign Institutional Investors (FII) and the value of rupee, which had touched a historic low of 54.3 against dollar in December.
Moreover, sources said, India has emerged as an important player at crucial international fora dealing with economic, climate changes and other issues. The country has been playing a key role in negotiations at G-20 as well as the World Trade Organization (WTO) meetings. Facing the burnt of global downturn, the Indian economy is expected to grow at around 7-7.5 percent in the current fiscal.
The Economic Survey had projected a growth rate of about 9 percent for 2011-12. It based its optimism on recovery of the global economy and resurgence of demand and investment on the domestic front. Many global observes feel the world economy would continue to reel under the crisis that began with the fall of America's iconic investment banker Lehman Brothers in September 2008. They proved correct as the pace of economic recovery was slower than what was initially anticipated.
Socio-economic risks, such as income disparity and economic imbalances, have become the biggest concerns for industry leaders in 2012, the World Economic Forum had said in a report. The report, based on an annual survey of industry leaders and experts from across the globe, also warned of economic imbalances and social inequality risk reversing the gains of globalization.
Source: PTI