[STC-Salt Lake] Highlights of Pre-Budget Economic Survey Tabled on July 7, 2004

  • From: "Anup Sen, STC, Salt Lake City, Kolkata" <anupsen@xxxxxxx>
  • To: E-Group STC Salt Lake City Kolkata <banknews@xxxxxxxxxxxxx>
  • Date: Wed, 07 Jul 2004 17:27:17 +0530

From : E-Group, STC, Salt Lake, Kolkata
 

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E-Group, STC, Salt Lake, Kolkata

 

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Title: State Bank of India, Staff Training Centre, Salt Lake, Kolkata. : : stcsaltlake@xxxxxxxx : :

 

 

Highlights of Pre-Budget Economic Survey Tabled on July 7, 2004

 

 

 

 

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

 

Ø      Steps to be taken to achieve 7-8 per cent GDP growth

 

Ø      Expanding industry fast, by at least 10 per cent

 

Ø      Boosting agricultural growth through diversification

 

Ø      Emphasis on agro-processing to achieve higher agri growth

 

Ø      Effecting fiscal consolidation, eliminating revenue deficit

 

Ø      Maintaining inflation at around five per cent

 

Ø      Foreign exchange reserve at $119.3 bn as of May 31, 2004

 

Ø      Combined fiscal deficit in 2003-04 at 9.4% of GDP

 

Ø      Indications of hardening of interest rates in near future

 

Ø      No disinvestment in profit making PSUs

 

Ø      FII inflows up by 1635 per cent in 2003-04 over 2002-03

 

Ø      Expresses concern over low tele-density and Internet usage

 

Ø      States get extension to unbundle SEBs

 

Ø      Redesign food security framework

 

Ø      Attract greater investment in infrastructure projects

 

Ø      Design specific micro strategies for export growth

 

Ø      Reformulate policy to tackle poverty

 

Ø      Take steps for attaining 10% industrial growth

 

Ø      Shift focus to corridor management in road construction

 

Ø      States to cut down fiscal deficits

 

Ø      Overhaul tax exemptions; Strict penalty to curb evasion

 

Ø      Recommends broad-based agri development programme

 

Ø      Fee hike for higher education

 

Ø      External debt jumps 6.47% to $112.13 billion till 2003

 

Ø      Equity markets return 85 pc in 200304.

 

 

 

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