Indian Economy.

Posted by | August 23, 2003 | World | No Comments

Indian Economy is all set to grow by 5.5% by 2003-04 according to IMF sources. The heavy fiscal deficit and public debt has burdened the Indian economy, will little scope for a major increase in the growth scale. IMF was concerned that the Indian Budget has done little in terms of providing relief to the fiscal deficit. Being the second largest populous country in the world and its growth percent not much improved than that of the 90’s level is a concern for IMF. These concerns should be tackled effectively with the help of fiscal policy and a measure to decrease inflation rate, which is at present is around 4.5%. The Government hence must adopt measures to better the situation and decrease the fiscal deficit through various policies especially in the agricultural and industrial sector.

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