Isn't 8% over-ambitious........??
In the first quarter of the current financial year (April –June 2004) , the financial growth has been recorded as 7.4% as compared to 5.3% for the same period last year.
The speculations are --Is growth rate of 8% possible for current financial year…??The government seems to be paying more attention to infrastructure reforms and cost cutting measures.
The IMF has projected India's growth at 6.4 percent ... It said the left-backed Congress government elected in May planned an "ambitious fiscal adjustment" to balance its current budget by 2009 while hiking spending in priority areas such as health, education and infrastructure.It called the fiscal goal "broadly appropriate" but said spending rises should hinge on boosting revenues and that accelerating structural reforms -- such as freeing up trade -- were key to increasing growth and cutting poverty.
India's revenue collection is expected to be lower than targeted this year after the government cut duties on petroleum products and steel to fight inflation running at three-and-a-half year highs.
The IMF has projected this growth rate despite patchy monsoon rains that have raised concern about farm output in the agriculture-dependent nation of over one billion people.Some tools that the Indian government can use to pursue its aim of a high and sustainable growth of the Indian economy.
The speculations are --Is growth rate of 8% possible for current financial year…??The government seems to be paying more attention to infrastructure reforms and cost cutting measures.
The IMF has projected India's growth at 6.4 percent ... It said the left-backed Congress government elected in May planned an "ambitious fiscal adjustment" to balance its current budget by 2009 while hiking spending in priority areas such as health, education and infrastructure.It called the fiscal goal "broadly appropriate" but said spending rises should hinge on boosting revenues and that accelerating structural reforms -- such as freeing up trade -- were key to increasing growth and cutting poverty.
India's revenue collection is expected to be lower than targeted this year after the government cut duties on petroleum products and steel to fight inflation running at three-and-a-half year highs.
The IMF has projected this growth rate despite patchy monsoon rains that have raised concern about farm output in the agriculture-dependent nation of over one billion people.Some tools that the Indian government can use to pursue its aim of a high and sustainable growth of the Indian economy.
Excogitated by a_beautifulmind @ 1:49 PM
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