The 21% rate would be a tall ask, given that the inflation rate is at a historic high of 38% on a monthly basis. The government had set an inflation estimate of 11% in the last year, but the it ended up around 25%.

Here are other highlights of the government’s annual targets

• GDP target set at Rs99,335 billion
• Indirect taxation target set at Rs6,482 billion
• National Savings target set at Rs14,170 billion
• Net Factor Income from Abroad target set at Rs6,971 billion

The government has also set sectorwise targets for the next fiscal year, most of them revised down from last year.

• Agriculture growth target set at 3.5%
• Overall industry target set at 3.4%
• Large Scale manufacturing set at 3.2%
• Construction growth rate set at 1.5%
• Services growth target set at 3.6%