ECONOMY 8.1%GDP for 2003-2004; Highest ever annual addition to National Wealth. Exports up by 20%. $50bn in 202-2003 against $33.2bn in 1998-1999. Rs 50,000-crore Infrasctructure and Manufacturing Fund set up and spent on Power generation.sea ports, Airports, roads, Tourism, Telecommunication and urbaninfrasctructure. Rs,10,000 crore Small and medium industry fund set up, Interest rate at 2% below PLR. No shortage of foodgrains and no price rise during severe drought in 14 states in 2002-2003. Law passed to usher in transparency in central and state industries. Income tax exemption limit raised and procedure simplified to make it citizen-friendly. FII inflos : $15bn in 2003 against $9.9bn in 1998. FDI : $4.66 billion in 2002-2003 against $2.46billion in 1998. SEBI act amended to create safeguards against malpractices. Law passed to help banks and financial institutions reduce their NPA’s.