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Economic Survey 2003-2004 - Highlights

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 five per cent

Foreign exchange reserve at $119.3 bn 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 disinvestment 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% 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 bn till 2003

Equity markets return 85% in 2003-04

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