The India GDP Forecast 2008 summarizes the overall estimated growth of the Indian economy. Further, the projections of the India GDP Forecast 2008 are based on the latest performance of different Indian industries. The forecast of the Indian GDP for the year 2008 focuses on the key points of the latest developments and draws projections according to it. The main objectives of the India GDP Forecast 2008 is to generate an assumed value of the key contributors to the Indian economy like manufacturing industry, service industry, banking & investments industry, infrastructure, agriculture, etc.
The snapshots of the India GDP Forecast 2008:
- GDP factor to register a growth rate of 10% and above
- India's Industrial growth rate to exceeded 10%
- Manufacturing industry to record growth rate of 12% and above
- The passenger vehicles sector to grow by 12% or more
- The mining and quarrying sector to register a growth of 4% and above
- Electricity sector to register 12% plus growth
- FDI - India envisage of attracting $10 billion of foreign direct investment (FDI)
- Growth in bank credit to grow by 30%
- Telecommunication sector to register growth of more than 1000%
- Corporate India to record rise in salaries by 25%
- Electricity, gas & water supply to record growth rate of more than 9%
- Construction industry growth rate is expected to be more than 11%
- Trade, hotels, transport and communication is expected to register a growth rate of 13% and above
- Financing, insurance, real estate and business services to recorded a growth rate of more than 12%
- The annual inflation rate is expected to be within 5% to 5.5 %
- Community, social and personal services to maintain a decent growth rate of around 8% and above
- The growth rate of agriculture, forestry & fishing' and 'mining & quarrying' are estimated to be at 4 %, and 3.5% respectively
- Exports to grow by 19% and the imports by 35% and above
- The food sector is estimated to be of US$ 200 billion and it is expected to grow to $310 billion by 2015
- Stocks of food-grains to grow by 14% or more
- Central Public Sector Enterprises to invest Rs.165, 053 crore in 2007-08
- New 162 production sharing contracts awarded to Petroleum and Natural Gas sector
- Foreign trade and merchandise exports expected to cross US$125 billion
- Provision for tourist infrastructure to be increased to Rs.423 crore
- Bank's differential rate of interest scheme to provide finance at the rate of 4% to weaker sections
- Regional rural banks to open at least one branch in 80 uncovered districts
- Seven ultra mega power projects are under process
- Defense expenditure allocation to be increased to Rs.96, 000 crore
- IT allocation for e-governance to increased from Rs.395 crore to Rs 719 crore
- Exclusive health insurance scheme for senior citizens
- Provision for national highway development programme to be increased to Rs.9, 945 crore
- Farm credit target of Rs.225, 000 crore has been set with an addition of 50 lakh new farmers to the banking system
- A pilot programme for delivering subsidy directly to farmers have been arranged
- Loan facilitation through Agricultural Insurance and NABARD has also been facilitated
- Corpus of Rural Infrastructure Development Fund to be raised