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.
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Equity markets return 85% in 2003-04.
