Home > Business > Budget 2004-05 > Report

Highlights of the Economic Survey for 2003-04

July 07, 2004 12:18 IST
Last Updated: July 07, 2004 12:32 IST

Following are the highlights of Economic Survey 2003-2004, tabled in Parliament on Wednesday:

  • Steps to be taken to achieve 7-8 per cent GDP growth.
  • Expanding industry fast, by at least 10 per cent.
  • Boosting agricultural growth through diversification.
  • Emphasis on agro-processing to achieve higher agri growth.
  • Effecting fiscal consolidation, eliminating revenue deficit.
  • Maintaining inflation at around 5 per cent.
  • Foreign exchange reserve at $119.3 billion as of May 31, 2004.
  • Combined fiscal deficit in 2003-04 at 9.4% of GDP.
  • Indications of hardening of interest rates in near future.
  • No divestment in profit-making PSUs.
  • FII inflows up by 1635 per cent in 2003-04 over 2002-03.
  • Expresses concern over low teledensity and Internet usage States get extension to unbundle SEBs.
  • Redesign food security framework. 
  • Attract greater investment in infrastructure projects.
  • Design specific micro strategies for export growth.
  • Reformulate policy to tackle poverty.
  • Take steps for attaining 10 pc industrial growth.
  • Shift focus to corridor management in road construction.
  • States to cut down fiscal deficits.
  • Overhaul tax exemptions; strict penalty to curb evasion.
  • Recommends broad-based agri development programme.
  • Fee hike for higher education.
  • External debt jumps 6.47% to $112.13 billion till 2003.
  • Equity markets return 85% in 2003-04.

Economic Survey 2003-2004: Complete Coverage

Article Tools
Email this article
Top emailed links
Print this article
Write us a letter
Discuss this article

Related Stories

Will interest rates firm up?

Govt to slash revenue deficit

India's forex reserves stand at?

People Who Read This Also Read

Survey lauds auto industry

Profitable PSUs not to be sold

Highlights of the Rail Budget

© Copyright 2004 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

Budget 2004-05: The Complete Coverage | Rail Budget 2004-05

Share your comments

 What do you think about the story?

Read what others have to say:

Number of User Comments: 3

Sub: fiscal populism of u. p. government

the recent announcements of the u. p. chief minister on reverting university and college fees to 1995 levels will end up in lesser state support ...

Posted by v. c. pande

Sub: Higlights of Economic Survey

How Economic survey will indicate that increase the fee hike for higher education? If there is tremendous curruption then black money plays vital role. That ...


Sub: Budget

The budget should concentrate on the following. Revenue: Rupee demonination above ten rupees should be removed. All transaction above 10000 should be with cheque.Any Indian ...

Posted by Sankaran.B


Copyright © 2004 rediff.com India Limited. All Rights Reserved.