Gambling for growth: Indian budget aims to give economy shot in the arm
Article Abstract:
Indian finance minister P Chidambaram's budget speech was welcomed by brokers and investors on the Bombay Stock Exchange, as the Sensitive Index rose 179 points, closing at 3752. The market friendly budget aims to make the Indian economy more dynamic through tax and duty cuts and fiscal prudence. Some see the budget as a good starting point but believe that the bright forecasts for the economy depend too much on factors out of the control of the finance minister, such as a good monsoon and harvest, low inflation rates and a growing consumer goods market.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
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Mixed bag
Article Abstract:
Industrial production in India rose by 6.5% in the first half of fiscal 1997 to 1998, according to the Centre for Monitoring the Indian Economy. It is expected that this rate will be sustained in the six months to Mar 31, 1998. Exports are predicted to rise by around 10% in 1997 to 1998, with the fiscal year ending with a current-account deficit of $5 billion, or just over 1% of GDP. The rupee has come under pressure following fears that foreign investors concerned about financial problems in East Asia will avoid India.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1998
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Life in the slow lane: India has discarded much of its socialist baggage since 1991, but it's also showing signs of reform fatigue
Article Abstract:
India's finance minister P. Chidambaram has plans to widen the market reform programme, which has already nearly doubled India's rate of growth. However there are concerns that the coalition government is not up to the job of ensuring that India becomes one of Asia's economic tigers. Trade growth fell in the year to March and export growth has also fallen. India needs to make quicker progress in reducing the fiscal deficit and the government should reduce spending on subsidies.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
User Contributions:
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