Economic Survey 2012-13 projects growth between 6.1 and 6.7 per cent

The Economic Survey 2012-13 was tabled in Parliament on Wednesday by Finance Minister P Chidambaram.  The survey projects an annual growth rate between 6.1 percent to 6.7 percent in 2013-14 financial year.

The Economic Survey 2012-13 also indicates that the global economy likely to recover in 2013.

Economic Survey points out the necessity of cut down on subsidies and increase in tax revenues.

On current account deficit, the survey says, “…given soaring energy and transportation needs, since there seems to be little we can do to temper oil imports, gold is the component that needs to be contained to bring the CAD back to a comfort zone.”

On investment in infrastructure the survey points out, “Policies to remove investment bottlenecks as well as structural reforms to encourage productive investment and its financing are essential, as is more accommodative monetary policy (lower interest rates), as inflation abates.”

Will government take a note on the survey and propose a tough budget or will it offer a populist budget? A million dollar question indeed!

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