that complement the fiscal efforts to reduce inflation. We do not see the RBI and the finance ministry as antagonists in the fight against inflation. We also plan to shift our macroeconomic targeting to getting the revenue deficit to zero by the end of the NDA government`s term in 2018-19 - which means a cut
11.22 AM Jul 8th 2014
changes in the fiscal roadmap as soon as he became finance minister in UPA-1 in 2004, and again changed it when he presented the last budget of UPA-1 in 2008, when he had to finance all his election-eve giveaways. This is what he said in his 2008-09 budget speech: "In the case of revenue deficit, I
6.53 PM Jun 3rd 2014
or revenue deficit, he referred to more fundamental deficits: the governance deficit, the democratic deficit, the trust deficit, the moral deficit, the ease-of-doing-business deficit, and the safety and security deficit – among other deficits. He made his usual political point when he called the last 10
1.31 PM Feb 28th 2014
the fiscal deficit, the real worrisome deficit – the revenue deficit – is unchanged in 2013-14 at 3.3 percent of GDP, and comes down only to 3 percent in 2014-15. So while Chidambaram expects the fiscal deficit to fall 0.5 percent from 4.6 percent to 4.1 percent, revenue deficit falls only 0.3 percent
2.58 PM Feb 17th 2014
, but it is unreal, since it involves rolling over Rs 35,000 crore of fuel subsidies to the next year. And there could be more such accounting surprises once we read the fineprint. Second, real fiscal correction is far, far away, as the revenue deficit is still at 3.3 percent - same as in last year`s budget. Next
1.30 PM Feb 17th 2014
models. Chidambaram’s red line is thus an effort to confuse you into believing that he is a stickler for prudence when it suggests no such thing. In fact, if at all any number ought to be given greater sanctity in the budget he will present later today, it is the revenue deficit – which measures
1.10 PM Feb 17th 2014
on its core revenue deficit. Now it won’t. By chickening out, Rajan has flunked his test. He is making the same mistake made by his predecessor D Subbarao – giving the government too much of the benefit of doubt. He has eroded his own credibility as an inflation fighter.
11.33 AM Dec 19th 2013
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