News from India – Finance Minister Pranab Mukherjee to take credit for ending 2010-11 with a budget deficit well below 5.5 percent of GDP is estimated that his team at the beginning of the year. A higher than expected GDP growth of 8.6 percent will give him enough room to finish the year with a budget of less than 5 percent of GDP. Even if the Finance Ministry Budget Division is compiling the numbers, Mukherjee acknowledged the buoyancy of tax revenues. “The higher-than-expected nominal GDP growth will ensure that our performance in fiscal and revenue deficit targets for the year would be better than projected in the budget 2010-11.
It was so exciting to prevent all the cost and make it so considerably. Although the center has targeted a budget deficit of 5.5 percent of GDP in 2010-11, analysts expect that it can be as low as 4.85 percent of GDP. “Higher than expected growth and inflation have pushed up the nominal GDP figures. It is probably a significant downward revision of the budget deficit to GDP ratio, which can be as low as 4.85 percent result. But in absolute numbers, the deficit can be affected, “said Deepali Bhargava, an economist at ING Vysya Bank.
It was so exciting to prevent all the cost and make it so considerably. Although the center has targeted a budget deficit of 5.5 percent of GDP in 2010-11, analysts expect that it can be as low as 4.85 percent of GDP. “Higher than expected growth and inflation have pushed up the nominal GDP figures. It is probably a significant downward revision of the budget deficit to GDP ratio, which can be as low as 4.85 percent result. But in absolute numbers, the deficit can be affected, “said Deepali Bhargava, an economist at ING Vysya Bank.
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