India to be IT hardware hub: President

Following are the highlights of the economic agenda unveiled by President A P J Abdul Kalam at the joint sitting of Parliament on Thursday:

• GDP growth likely to cross 8% in 2005-06.
• Inflation modest despite high global crude prices.
• Savings rate up at 29% and investment rate near 31%.
• India to be made IT hardware manufacturing hub.
• Dabhol plant to start in 2006; five mega power plants coming up.
• Rs 175,000 crore (Rs 1,750 billion) investment for national highways.
• Civil Aviation Policy on the anvil.
• Chennai, Kolkata airports to be modernized.
• Rs 20,000 crore (Rs 200 billion) investment for rail freight corridor.
• $10 billion FDI (foreign direct investment) in petrochem investment regions.
• FDI policy to be rationalised, bottleneck to be removed.
• NREG Act (National Rural Employment Guarantee Act) to provide safety net to rural poor.
• Bharat Nirman to create
  better rural infrastructure.
• Electricity to every village by 2009.
• Roads, telephone, water, irrigation for rural India.
• 60 lakh (6 million) houses for rural poor.
• Basic services to urban poor.
• Metro rail for Mumbai and Bangalore.
• Rs 14,000 crore (Rs 140 billion) package for reviving cooperatives.
• Common market for agriculture.
• Need to amend Essential Commodities Act, APMC Act.
• National Horticulture Mission with Rs 2,300 crore (Rs 23 billion) outlay.
• National Rainfed Area Authority being considered.
• Set up a National Biotechnology Regulatory Authority.
• National Bio-diesel Programme to be launched in FY07.
• 10-year National Manufacturing Initiative in the offing.
• Emphasis on labour-intensive sectors.
• Focus on textiles, leather, food processing, IT hardware and auto components.
• Attention to IT, BPO, tourism, education, health.
• Better management of public finances, cutting debt.
• Efficient management of PSUs.
• Carry forward reforms.