New Delhi: Following are the highlights of the economic policies of the United Progressive Alliance (UPA) Government spelt out in the customary Presidential address to the joint sitting of both Houses of Parliament after elections to the 14 Lok Sabha:-

* An economic growth rate of at least 7-8 per cent annually for a sustained period.

* A cess proposed on all Central taxes to finance universal access to quality basic education.

* Eliminating revenue deficit by 2009 so as to release more resources for investment in social and physical infrastructure.

* Increasing the flow of agricultural credit, dovetailed farm insurance schemes, special programme on dryland farming, remunerative prices for farm produce.

* Committed to the rejuvenation, orderly development and functioning of capital markets.

* Privatisation on a case-by-case basis and chronically loss-making units to be either sold off or closed after providing legitimate dues and compensation to workers.

* Tax rates to be stable and conducive to growth, compliance and investment; major reforms to expand the base of tax payers and more citizen-friendly tax administration.

* Subsidies to be targeted at the poor and needy, a detailed roadmap would be prepared for this purpose.

* Value-Added Tax (VAT) to be introduced in close co-operation and consultations with trade and industry.

* UPA's Common Minimum Programme to be implemented in the next five years.

* Effective steps and strong measures to control the price hike of essential commodities.

* Rapid export growth for which procedures will be simplified and tarrifs appropriately harmonised.

* Enabling textiles industry to meet the new challenges imposed by the abolition of quotas under the WTO.

* A National Manufacturing and Competitiveness Council to provide a special package for SSI sector.

* Ensuring proper implementation of minimum wage laws for farm labour.

* Giving fresh impetus to the jute industry.

* Changes in labour laws for rapid growth of manufacturing sector and expansion of employment opportunities.

* Effective measures to protect interests of agri-workers.

* Providing guaranteed employment for 100 days in a year to at least one able-bodied person in each rural household; a National Employment Guarantee Act will be legislated.

* Public-private partnership for expansion of physical infrastructure such as roads, ports, airports, power, Railways and water supply and sanitation.