Economic Survey 2011-2012

Forecasting slippage in budgeted tax income and fiscal deficit tapers for the menstruation financial year, the Economic Survey 2011-12 has called for financial consolidation establish on structural reforms in government expenditure. The fiscal issuing in 2011-12 is likely to be affected by the macroeconomic setting which indicates sharp slowdown in industry and emergent costs affecting profits, express the survey which was tabled in fan tan today. Budget at ET: Budget 2012 | Union Budget | railroad line Budget | Budget News | Economic Survey In the first nine months of the current fiscal, gross tax revenue has grown by 12.2 per centime as against the BE (budget estimate) target of 17.3 per cent, it said. On the other hand, as against a target of 4.9 per cent for the whole year, growth in nub expenditure in the first nine months of 2011-12 was 13.9 per cent, which comprised 15.4 per cent growth in non-Plan expenditure and 10.8 per cent growth in Plan expenditure, the survey added. Consequently, a slippage is likely from the revenue and fiscal deficits budgeted, it said. Going forward, the survey said: There is a need to anchor fiscal consolidation on structural reforms in expenditure.

While the targets will be missed this fiscal, the medium- term stance of fiscal consolidation could be salvaged, it added. What is critical here is that policies need to be in bulge out to cater to uncertainties that might arise during the course of the year, particularly in dealing with risks like global oil prices that have acquired a systemic nature, the survey said. According to the survey, the rapid build up in expenditure over the first nine months of the current financial year and less than commensurate growth in revenue have led to high proportions of deficits. In the April-December period, total expenditure was at Rs 8,96,361 crore, at 71.3 per cent of BE of Rs 12,57,729 crore. During the very(prenominal) period, revenue receipts stood at Rs 4,98,491 crore,... If you want to get a full essay, order it on our website: Ordercustompaper.com

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