India's economy is set to expand in the range of 6.1 percent to 6.7 percent in 2013-14 as the downturn is more or less over and the economy is looking up, according to the Economic Survey tabled in Parliament on Wednesday.
For the fiscal ending March 2013, economic growth is estimated to decelerate to 5 percent.
The government will give priority to curb high inflation, the report said. The wholesale price inflation is expected to slow to 6.2-6.6 percent by March this fiscal.
The survey noted that lower inflation will give the central bank room to cut policy rates, and in turn boost investment.
Slowdown is a wake-up call for increasing the pace of actions and reforms, Raghuram Rajan, Chief Economic Adviser of Ministry of Finance wrote in an introduction to the Survey.
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