Economic Survey pegs fiscal deficit at 4.6%

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