India's greater worry is the current account
deficit - will need more than $75 billion this year and next year to
fund deficit. Fiscal deficit currently is at 5.3% of GDP this year and
is expected to be 4.8% of GDP in 2013-14. The revenue deficit for the
year 2013-14 has been fixed at 3.3 %.
Fiscal consolidation cannot be affected only by cutting expenditure, therefore wherever possible, revenue also must be augmented.
Currently India is the 10th largest economy in the world. By 2017, it can be 8th or perhaps 7th largest economy. It can be among the top 5 by 2025 if the right policy framework and proper implementation is followed.
Fiscal consolidation cannot be affected only by cutting expenditure, therefore wherever possible, revenue also must be augmented.
Currently India is the 10th largest economy in the world. By 2017, it can be 8th or perhaps 7th largest economy. It can be among the top 5 by 2025 if the right policy framework and proper implementation is followed.
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