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Economic Survey pegs fiscal deficit at 4.6%

July 07, 2004 12:45 IST

According to the Economic Survey which has just been released:

  • Fiscal deficit is down to 4.6% as against 5.3% in 2002-03
  • Estimated revenue deficit is 3.6% as against 4.4% in 2002-03
  • GDP growth is estimated at 8.2%
  • The Economic Survey sees SSI reservation a constraint on industrial growth
  • The Survey sees rigid labour laws a constraint on industrial growth
  • The removal of these constraints can achieve 10% industrial growth.
  • Sustained momentum to achieve 7-8% growth for the next 5 years
  • Contain annual inflation rate to medium, single-rate level
  • Global crude prices could impact inflation
  • Boost agricultural growth with focus on agri-processing
  • Target at least 10% industry growth to generate employment
  • Remove constraints to achieve 10% industrial growth
  • Fiscal consolidation by eliminating revenue deficit
  • Firm lending rates remain a cause for concern
  • Varied corporate lending rates a cause for concern
  • India needs to manage impact of global int rates, currency imbalances

Economic Survey 2003-2004: Complete Coverage

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