The Economic Survey, which was tabled by Parliament on the first day of the budget session, presents a cautiously optimistic outlook for the economy. The survey projects the economy could grow by up to 7 percent by Q3.

That growth depends on Parliament quickly pushing through economic reforms related to foreign investment, energy pricing and balancing the trade deficit. Financial analysts say the Indian economy may be insulated from further global downturn because banks are in a relatively strong position and inflation is under control

Tags: budget session, economic reforms, Economic Survey, foreign investment energy pricing, inflation, trade deficit

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