Prime Minister Narendra Modi has taken charge of an economy that is facing the twin problems of high inflation and much-below potential growth. The Union Budget to be presented by Finance minister Arun Jaitley will also decide the direction of sluggish economy. Rising food prices has emerged as one of the big challenges for the government.
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The government is likely to present the 2014-15 Union Budget in the second week of July as the vote on account approved by the previous Parliament ends on July 31 and a new budget has to be in place before that date.
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Elevated costs for food items have added to inflationary pressures. Below average rainfall predicted between June-September this year, could hit summer crops, increasing price pressures and impacting economic growth.
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The nation is keenly awaiting the budget for policy cues and the government’s strategy on reviving growth, containing inflation, trimming subsidies and measures for the farm and manufacturing sectors. The government has vowed to revive growth, which has slipped below the 5% mark for two consecutive years and has said taming food inflation remains its top most priority.
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To get an informed view, nnis spoke exclusively to the chief economist of PHD chamber of commerce.
LOOKING FOR REFORMS IN THE LABOUR MARKET
MEASURES WILL IMPROVE THE ECONOMY
INCREASING THE FARE IS A GOOD THING
ECONOMY IS FACING CASCADING EFFECTS
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INFRASTRUCTURE SECTOR IS VERY WEAK
TOP AGENDA FOR PHD CHAMBER IS MANUFACTURING SECTOR REFORMS
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DON’T SEE ANY WEAKNESS IN THE GUJARAT GROWTH MODELÂ
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