Economic Survey misses the point
If the threat posed by sanctions is excluded, the on-going industrial slack is the most worrisome feature of the economy. The Economic Survey (ES) 1997-98 rightly says that "it is too early to assess the implications" of sanctions. But it offers no more than a perfunctory analysis of the industrial recession.

All said and done
Seven years after economic liberalisation was flagged off, many of the early hopes have been dashed. The Economic Survey points out these things, and calls for urgent corrective measures. At the same time, it warns against the facile solution of government overspending.

I-Sec's pre-budget report
Exemption limit for personal income tax is likely to be hiked. Marginal rate for personal tax may be increased to 35%%. Possible increase in investment limit for tax rebate under Section 88 of the IT Act.