- UPA government has said that
- Current account deficit (CAD) has been brought down to $32 billion and $28.5 billion has also been added to the reserves.
- Fiscal deficit has been contained within the target.
- Targets have been achieved in tax collection in the direct, but in indirect segments a net shortfall was seen in the central excise and service tax segments.
- Fiscal deficit target as projected in the interim budget (4.6 % of GDP during 2013-14) will be achieved.
- This was the reflection of investors’ increased faith in the stability and strength of India’s economy
- Economy slowdown was as a result of increased expenditure of government, fiscal deficit and CAD, and consequent inflation, but going forward economy will only get better.
- Read at: http://www.thehindu.com/todays-paper/tp-business/going-forward-economy-can-only-become-stronger/article5952154.ece
Exams Perspective:
- CAD
- Fiscal Deficit
- Interim Budget
- Forex Reserves
- Inflation