The Economic Survey 2006-07 has identified five mantras for achieving high and inclusive economic growth with a view to creating more jobs and eliminating poverty at a faster pace.

1. As a first step, the government should initiate measures to channelise savings accruing on account of high growth rate coupled with the demographic dividend (a growing proportion of the population in the working age group) for investment.

2. Secondly, efficiency improvements in the economy since 1999-2000 will reinforce the country's confidence in the high-growth phase.

The ratio of net capital stock to gross value added in the national economy, which went down from 2.78 to 2.60 between 1999-2000 and 2004-05, has increased to 2.66 in 2004-05, suggesting efficient utilisation of resources.

3. Thirdly, availability of labour at reasonable wages and efficiency improvements will open new avenues in services, beyond the already well-known IT and ITeS that bolster confidence in the new high-growth phase.

The Survey also suggested that the government should encourage tourism, which globally contributes 10 per cent to the world's gross domestic product.

4. As fourth step, the Survey underlined the need for rapid capacity addition through investments to prevent overheating of the economy as is being feared by some economists.

5. Fifthly, the poor infrastructure that constrained growth in the past has started improving and is likely to strengthen further, giving a boost to economic growth.

• Economic Survey 2006-07: Complete Coverage