The Budget for 2003-04 expects that the softening of interest rates will continue. However, the analysis here suggests while demand for funds both from a revival of normal economic activities and...
Budget
The tax proposals are weak and smack of scattershot populism of the years prior to 1991. A saving grace is the strong commitment to reform of procedures but at present this is only a statement of...
The finance minister has sought to convey, however subtly, that we can live with the present level of the fiscal deficit without getting killed, meaning, we can still achieve a growth rate of around...
The finance minister has claimed that his objective is to "eliminate procedural complexities, reduce paperwork, simplify tax administration�enforce efficiency�[and] move away from a...
This essay seeks to provide a framework for evaluating budgets in the context of the economic reform programme. The seven effective tests of a good budget proposed are: (i) How well does the budget...
A number of concessions in the form of reduced excise, customs, or income tax exemptions have been announced for the healthcare industry. However, healthcare also needs to be viewed as a service...
As a corollary of market reforms, monetary policy and particularly interest rates have become the most important policy instrument, though the Reserve Bank of India's actions receive far less public...
In the last two years there has been a decline in the tax/GDP ratio but this year the finance minister intends to reverse that mainly through mopping up more corporation and income and service taxes...
How are budgets to be judged? Judgments are often made from specific viewpoints. However, focusing on a single criterion such as the fiscal or the revenue deficit is unsatisfactory, as it does not...
The specific proposals of Budget 2002-03 for agriculture and rural development do not live up to expectations. There is need for bold initiatives on public investment, credit and creating incentives...
Strengthening the financial sector and the capital markets is among the major objectives of the finance minister's declared budget strategy. However, evaluating the proposals for the financial sector...
The budget is a collection of measures, disconnected maybe but not necessarily badly conceived. However, it does not amount to a serious stab at launching the economy on to a higher growth path,...
A look at the budget proposals from the perspective of the likely changes in the flow of funds due to the proposed changes in the structure of tax incentives in the context of the government's...
Among the major macroeconomic issues concerning the Budget for 2002-03 and the related economic policies of the government discussed here are whether there is a demand recession in the Indian economy...
Yashwant Sinha, having started with a protectionist and nonreform budget, has moved towards substantive reforms. While in his last two budgets he has been pushing through some major reforms of the...
