New Delhi: India’s Economic Survey for 2012-13 has projected a 6.1-6.7 percent growth for the next fiscal after a deceleration to around 5 percent this year, with inflation seen falling slightly to 6.2-6.6 percent.
“The slowdown is a wake-up call for increasing the pace of actions and reforms,” said the survey, adding that India has navigated difficult times as these before, and with good policies, it will again come through stronger.
Authored by Chief Economic Advisor Raghuram Rajan, the report card on the state of the economy, with recommendations for the way forward, was tabled in parliament by Finance Minister P. Chidambaram Wednesday, a day ahead of the national budget for 2013-14.
The survey also pushed for fast action on the ground after the opening up of the retail trade industry to overseas companies and said this will not just pave the way for flow of investment in new technology but also for marketing of farm produce in India.
“Fast agricultural growth remains vital for jobs, incomes and food security.”