Projecting a seven per cent growth in 2005-06, government's pre-Budget Economic Survey on Friday outlined reforms in tax and expenditure and labour laws as a priority in the Budget and favoured opening up of more sectors, including retail, to foreign direct investment to push up investment.

Following are the highlights of the Economic Survey 2004-05:

• GDP projected at 6.9 per cent
  
• 7-8 per cent GDP growth projected for 2005-06
  
• Agri and allied sector to grow at meagre 1.1 per cent
  
• Inflation pegged at 6.4 per cent
  
• Forex reserve at $128.91 billion
  
• Exports growth at 25.6 per cent
  
• Exports value stands at Rs 2,74,313 crore (Rs 2,743.13 billion)
  
• Negative growth in foodgrain production at 2.8 per cent
  
• Imports growth at 32.1 per cent
  
• Total imports value stand at Rs 3,76,815 crore (Rs 3,768.15 billion)
  
• Industrial growth soars at 8.4 per cent
  
• ASEAN, China, Japan and Korea account for 19.9 per cent trade
  
• EU (19 per cent) and North America (12.9 per cent) at 2nd and 3rd spot
  
• External debt goes down to 17.8 per cent of GDP
  
• Liquidity management a concern, overhang at Rs 81,000 crore (Rs 810 billion)
  
• Food credit grows by 15.2 per cent
  
• India heading to equitable local/STD rates
  
• Higher securities investment reflect strong outlook of India
  
• Advocates duty cuts to ASEAN level
  
• Bharat Sanchar Nigam, Mahanagar Telecom Nigam's market share take a dip
  
• FDI policy needs review
  
• Non-food credit pegged at 20.1 per cent
  
• Deposit rates of five major banks up by 25 basis points
  
• Housing loans rate go up
  
• Prime lending rates lower by 25 to 50 basis points
  
• Agriculture credit up by 30 per cent
  
• Gross bank credit marches ahead by 19.9 per cent
  
• Fiscal deficit at 4.4 per cent of GDP
  
• Revenue deficit broughtdown to 2.5 per cent of GDP
  
• States swap high cost Rs 92,444 crore (Rs 924.22 billion) loans with Centre
  
• Overall public issues grew five times to Rs 35,859 crore (Rs 358.59 billion)
  
• Tele density grows at 6.6 per cent
  
• Advocates limited government role in infrastructure
  
• Gross domestic saving grew by 28.1 per cent
  
• Gross domestic investment shots by 26.3 per cent
  
• Auto and auto components sales grew by 20 per cent
  
• Electronics and IT jumped at 18.2 per cent
  
• Steel leaped ahead by 4 per cent
  
• Cement production higher by 6.81 per cent
  
• Core industries registered lower average of 5.4 per cent
  
• Railways traffic moved forward at 7.7 per cent
  
• Cargo handled at sea ports posted 11.1 per cent growth
  
• Cargo handled at airports zoomed 18.3 per cent
  
• Air passenger traffic flew at 21.8 per cent
  
• Human Development index improved to 0.595
  
• National Food for Work Programme launched in 150 districts
  
• National Rural Employment Guarantee Bill introduced
  
• Labour reforms need for increasing exports
  
• Infrastructural, procedural bottlenecks hitting growth