Economy poised to grow at 6.1-6.7 per cent for 2013-14

Ahead of the general budget, the Economic Survey, an official assessment of the country's economy was table in Parliament today. The survey projects that the economy will pick up pace in 2013-14 and is poised to grow at 6.1 to 6.7 per cent and that the inflation may decline between 6.2 to 6.6 per cent in March 2013. The survey has also suggested a hike in diesel and LPG price to cut subsidy burden, widen tax base and prioritise expenditure to check fiscal deficit. However, the projected growth has been described as highly ambitious especially with the country's GDP is estimated to hit the decade-low of 5 per cent in current fiscal.

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