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Highlights of mid-year economic review

November 14, 2003 19:15 IST

Following are the highlights of mid-year economic review released on Friday:

  • GDP to grow over 7.0%.
  • Agriculture growth pegged at 8.0%.
  • Foodgrain production to be 220 million tonne.
  • Industry to grow by 6.0%.
  • Annual inflation rate to be around 4.0%.
  • Food subsidies at Rs 27,800 crore unsustainable.
  • Export growth slow.
  • Review of limits on FDI.
  • Structural reforms required in labour laws.
  • Interest rate on small saving schemes needs a relook.
  • Early introduction of VAT required.

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