Wednesday, June 3, 1998
What the budget figures add up to
How achievable are the finance minister's projections in the 1998-99 budget? First, the fiscal deficit of Rs 91,025 crore has been projected at 5.6 per cent of GDP, which means that the GDP figure amounts to Rs 16,25,446 crore. The revised estimates for 1997-98 have a fiscal deficit of 6.1 per cent, amounting to Rs 86,345 crore. This implies a GDP of Rs 14,15,492 crore.
Empowering India Inc
Lost in the immediate reaction to the budget's hike in duties is the broader vision of the budget presented by Yashwant Sinha. Understandably, most discussions have been centred around the thought uppermost in the minds of the common man -- whether the budget will pull the economy out of the downturn.
Sinha pleases one and all
The country needs to be grateful to the finance minister for having spared the nation from any increase in the tax burden. He has also been able to meet most of the demands made by trade and industry. A harsh budget which was expected, has turned out to be as subdued as the blasts in Pokhran.
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