<h1>India's Economic Growth Hinges on US Recovery and Key Policy Reforms; Investment Remains Strong Amid Challenges.</h1> The Economic Survey 2008-09, presented to Parliament, highlights the Indian economy's dependence on the US economic recovery and critical policy reforms for returning to high growth. If the US economy rebounds by September 2009, India could achieve a growth rate of around 7% in 2009-10. However, a prolonged global downturn could moderate growth. The survey notes a decline in private consumption due to factors like reduced equity/property prices and employment uncertainties. Despite challenges, investment remains strong, and India continues to attract foreign investments. The survey emphasizes the need for fiscal and monetary policy adjustments and energy pricing reforms to sustain growth and stability.