A day before the Union Budget 2004-05, the Finance Ministry has made a rather bullish prognosis of the economy even while hinting at hard fiscal measures and "bold actions" to consolidate the current "growth momentum." "The economy appears to be in a resilient mode in terms of growth, inflation and balance of payments" and there are "signs of improvement in the investment climate in recent months," the Ministry's Economic Survey for 2003-04 has said, referring to the 8.2 per cent growth in real gross domestic product (GDP) registered in the previous year.