Highlights of the Economic Survey for 2003-04

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.

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