But how to address this medium-term problem Last years Survey highlighted the flagging pace of economic reforms and the imperative of stepping it up. This years Survey focuses instead on the key growth drivers of technology and competition, together with benchmarking to the best international practices, exemplified by the information technology and automobile boom. This must extend to agriculture as well. Doubtless, such a virtuous interaction also needs an enabling environment and is facilitated by appropriate infrastructure, a suitable regulatory framework and macroeconomic stability. As for the last-mentioned, the Survey appears to jump the gun by claiming that India is already moving towards it! Far from it, considering the intractability of fiscal deficits of both the Centre and states. This preempts valuable resources and crowds out private investment, all of which prevent the government from generating internal budgetary surpluses for capital formation to kickstart overall growth. Unless fiscal consolidation takes place, medium-term growth impulses will remain sluggish. That being said, there are positives in the Indian economy that must be recognised. The Survey correctly highlights the resilience of the economy especially with the huge volume of foreign exchange reserves, strong external profile and large food stocks to weather the on-going escalation of tensions in West Asia and probability of war breaking out. But the governments major challenge is not merely to establish the robust foundations of growth this fiscal but also to reverse the slide over the last five to six years. Addressing this objective, however, requires an overall framework rather than a patchwork exercise of merely updating the publications various chapters with the latest information.