Latest Cover Story - Post Budget Strategy
The budget this year may turn out to be a non-event considering that the industry’s concern is more about whether the government will now start to phase out the stimulus package and allow room for natural growth, even as the stock market has already discounted most of such anticipations
An initial dig into the subject itself tells us that despite bringing the econo-my back on track and corporate profit-ability improving, the government has little room to breathe and already has a huge task cut out for it. While the first budget of the new government in July 2009 was more about bringing growth back on track, the current budget is more about ushering in a balance in the disciplines of both growth and fis-cal. The budget estimates indicate that fiscal deficit could be around 6.8 per cent, the highest seen in the last 15 years. Therefore it is open knowledge that the government would have to deal with this first once growth returns. But what aggravates the scenario fur-ther is that even if the government sets an aggressive target of containing the fiscal deficit, how is it going to achieve the same?
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