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Thursday, March 15, 2012

Insights from the Economic Survey 2011–12-Fiscal Developments and Public Finance

The newspaper editions of tomorrow and dayafter will be filled with analysis and insights as people try to decipher the numbers and read the tea leaves, for both the Economic Survey and the Union Budget. However, this blogpost aims to capture the nuggets mentioned in the 14 chapters of the budget(which I did read today!), and does not claim to be exhaustive given the huge data overload! Anyways, here goes for Chapter III(normal text is from the survey, bold text is mine) which can be read at this link
  1. The scenario and outlook is poor but we have seen worse in earlier years FY09 and FY10 in terms of deficits.
  3.  Interestingly, the average cost of domestic borrowings has remained nearly flat despite the multiple rate hikes in FY11 and FY12. This is a mystery, or perhaps the forced SLR investments are doing their bit...
  4. Central Plan spend quite lesser than total resources, most of spend non plan..  

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