India will continue to be fastest growingmajor economy in the world.

That's the prediction by the country's financeministry ahead of Monday's budget release.

The economy is seen growing by as much as7-and-three-quarter of a percent next year and the government is confident it can reachits fiscal deficit target of 3.

9% of GDP.

The survey predicted rosy times for the country,despite increased economic uncertainty in the rest of the world,with a long run forecast seeing growth between 8 and 10% for the foreseeable future.

But it wasn't all good news.

The annual economic survey recommends NewDelhi review its medium term fiscal strategy.

Especially given a staggering 16 billion dollarone-time cost to raise salaries and pensions of 10 million federal workers, and an estimatedprice-tag of 26 billion dollars to recapitalize Indian banks.

All eyes, of course, now turn to Monday andPrime Minister Modi's budget.

Phil Han, CNBC.