By 2014, India will reduce China's dominance on the World and has full potential; to emerge as the fastest growing economy in the World. India's GDP is expected to reach double digit levels by 2014.

The only current concern is the rising inflation rate, overcoming of this hurdle of rising prices, will boost India's chances of becoming the world's fastest growing economy. The analysis has come as a result of a survey released recently.

By 2012 itself the economy is expected to grow at 9 percent breaching the 8.5 percent mark in 2011. The survey was tabled by Finance Minister Pranab Mukherjee in the Lok Sabha, the lower house of parliament.

The growth was nearly 9 percent in 2008 when the global slowdown hampered the pace of the growth. The mainstay of the Indian economy, Agriculture still remains a matter of concern, fiscal deficits and inflation being the other two causes of worries for the Indian Economy.

The government, before the budget, has already hinted at drawing back the stimulus package.