Pre Budget commentary FY 2016-2017
Pre Budget commentary FY 2016-2017 This article was a part of an article writing competition at my college. It lost out on the number of likes on facebook, but came 2nd in comments from judges. Current Fiscal Health of India India’s public debt to GDP ratio in FY2015 was at 67%. It is the highest amongst the developing economies of the world. The figure is still away from a sustainable level so as to make available precious public resources for developmental purposes. India’s fiscal deficit is also on a downward trend, but is expected to miss the target of FY2015 of 3.9% of the GDP With the tax revenue target of Rs 14.49 lakh crore likely to me met and 2.21 lakh crore received in the form of non tax revenue (90% of the target), India is expected to meet the overall revenue targets for the previous budget. (Source: http://www.tradingeconomics.com ), www.financialexpress.com ) Failure/...