Financial Daily from THE HINDU group of publications
Friday, Jun 11, 2004
Financial Daily from THE HINDU group of publications Friday, Jun 11, 2004 |
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Opinion
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Letters Fiscal deficit
The UPA Government's Common Minimum Programme commits to eliminate fiscal deficit by 2009, without reducing or curtailing the growth of investments and develop- ment outlays. It also assures that the profit-making PSUs will not be privatised. Even when the sick PSUs are privatised, the privatisation revenues are assured for designated social sector schemes instead of putting it in the Consolidated Fund of India. Hence, the privatisation of revenues can hardly help in reducing the fiscal deficit. Given all these facts, it is imperative for the government to coordinate all its policies to achieve the zero fiscal deficits by 2009. This assumes significance with the observations of the World Bank that the Indian economy will grow at 6 per cent over the next five years against the target of 7 to 8 per cent unless the Government reins in fiscal deficit. C. Ramesh Keeramangalam (TN)
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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