Downturn almost over, economy to pick up pace

Ahead of the general budget, the Economic Survey, an official assesment 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 estimated to hit the decade-low of 5 per cent in current fiscal.

For more log on to http://www.newsx.com
Follow NewsX on Facebook at https://www.facebook.com/Newsxonline