Shan’s Blog

The Economic Survey for 2007-08 would be released by the Government today, having predicted an 8.1% growth rate for India last year.

The growth rate projected last year was close to a level witnessed by East Asian countries before the take-off phase. It had however cautioned that growth needed to come from better reforms.

It had also suggested that targets were likely to be met by March 2009. Economic Survey had also stressed on the need to get rid of oil subsidy amidst growing need for energy.

Ministry had also cautioned that the economy’s rosy outlook was not devoid of risks of inflation, hardening interest rate and fiscal deficit.

Amid growing inflation in 2006-07, pre-budget projections are widely awaited this time.

Both the Prime Minister and the Finance Minister have already reassured people that government would take every possible measure to bring inflation under control.