The world is gearing up to deal with the US budget, which comes just before the Indian Budget, and President Barack Obama has a tough task at hand. In his balancing act, which is tougher than Indian finance minister Pranab Mukherjee's job, Obama has proposed a USD 3.7 trillion budget on February 21 in which the deficit rises to USD 1.6 trillion this fiscal and then falls sharply to USD 1.1 trillion in 2012. Eventually, this trend would trim the deficit from 10.9% of GDP this year to 3.2% by 2015.
Nariman Behravesh, Chief Economist at IHSGlobalInsight, in an exclusive interview with CNBC-TV18Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
