India Budget 2014-15: GDP growth seen at 4.9%, agricultural growth, agri growth 4.6%

India is expected to record a growth of 4.9% after GDP fell to 4.4% from 7.9% in nine quarters, according to Finance Minsiter P Chidambaram.

NEW DELHI (Commodity Online): 

India has outperformed other emerging market economies although the nation is not immune to developments taking place in the global economy. India is expected to record a growth of 4.9% after GDP fell to 4.4% from 7.9% in nine quarters, according to Finance Minsiter P Chidambaram.

Presenting the interim budget for 2014-15, he said that the national food security act has ensured food for 67% of population."We are proud of the stellar production of the agri section. Estimates of production of sugar, cotton, and oils seeds point to a new record . Food grain production estimated at 263 mt against 255 mt last year," P Chidambaram said.

Finance Minsiter said that Rupee was under tremendous pressure this financilal year.Governments, RBI and SEBI took measures to stabilise foreign exchange. Among other emerging economies rupee was affected the least. 

Highlights:

IFCI will set up VC fund for scheduled caste. Initial capital of Rs. 200 crore will be given
-Govt, RBI, SEBI stabilised forex
-GDP fell to 4.4% from 7.9% in nine quarters
-FY14 India GDP seen at 4.9%: FM
-Coal production grew to 554 mn tons vs 361 over the decade
-Govt's two terms delivered growth above GDP trend rate
-Food Security act ensures food to 67% of population
-PSU Capex seen at Rs 2.61 lakh cr in FY 14
-Power sector to add 50,000 MW of thermal and hydro power
-FY15 Central assistance to states seen at Rs 3.38 lakh cr.