HIGHLIGHTS - India economic survey ahead of budget
NEW DELHI (Reuters) - India could see growth this year of roughly 7 percent and then resume the faster expansion of recent years, provided it makes sweeping reforms including removal of fuel subsidies and accelerates infrastructure development, a key government report said on Thursday.
The economic survey prepared by the finance ministry, and released ahead of Monday's budget announcement for the fiscal year ending in March 2010, said inflation was no longer a worry and called for an urgent return to the targeted fiscal deficit of 3 percent.
Following are the highlights of the survey:
GROWTH
* The economy could grow around 7 percent in the year to March 2010, if the U.S. economy bottoms by September.
* The economy could return to 8.5-9 percent growth in medium term if reforms are pursued.
* It is imperative that the government revisits economic reforms at earliest to boost growth.
* A calibrated monetary policy approach needed for early return to high growth path. Continued...
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