The Economic Survey had pegged the growth rate at 7.6 per cent for this fiscal. To achieve 5.7-5.9 per cent growth, the Analysis said, "both fiscal and monetary policy, however, would need to be supportive to sustain investor confidence. The government will also have to address the concerns relating to structural supply side bottlenecks".
The economic growth rate during 2011-12 had slipped to the nine-year low of 6.5 per cent due to both domestic and global factors. Earlier RBI had lowered the growth rate to 5.8 per cent for 2012-13. Referring to inflation, it said, further moderation in price rise is likely to commence from the fourth quarter of the fiscal. "Inflation at the end of March 2013 is expected to moderate to 6.8-7 per cent level", it said. As regards fiscal deficit, the Analysis said, the government would endeavour to restrict it to 5.3 per cent of GDP as against 5.1 per cent envisaged in the budget.