India Inc on Monday welcomed the government's vision to unleash reforms in the infrastructure and taxation sectors outlined in Economic Survey 2005-06.

Describing the report card of the government as "bold, forthright and pragmatic," Federation of Indian Chambers of Commerce and Industry said: "The suggestion to bottleneck the infrastructure sector and hasten the pace of tax reforms correctly envisaged to give the Indian economy and industry a shot in the arm."

• Economic Survey 2005-06: Complete Coverage

Assocham also sought bold policy measures with special focus on infrastructure, agriculture and oil sector reform and measures to relax corporate tax regime and control inflation.

While concurring with estimates of the Economic Survey 2005-06 that the GDP growth will exceed 8 per cent in current fiscal, the industry chamber said the government should lay stress to contain inflationary trends so that inflation rate was limited to 5 per cent as projected and interest rates are contained within the manageable limit of 8 per cent.