A sample Emerging Market Budget?
India’s high growth decade
Managing Debt
77% incl States, more than 50% of the GDP in the Central Budget
Reducing Deficit
7% and unlikely to get down from here for some time, it’s a hard stop
Expensing on Welfare
Spending on Job creation, Sponsoring infrastructure creation, market building, subsidising exports/imports..we have all heard it now ( even in the US). Hoping for private Sector bounce back, It’s all there..PIIGS, Germany, USA, India, China, Australia…
Sponsoring Reforms
FRBM, Bank Reforms, Building lasting Institutions
Irrelevant: What we are telling you also is that the US is also on a high growth path in the new decade because of the hidden role of these two enablers above? Unproven, Churlish and no, it just ain’t true. Not like that. But Reganomics for the US, Defcit Financing and Printing for the New Markets..is a proven starting point.
We are trying to create the new budget proposal on a simple revenues / expense statement..Capital Receipts, Direct and Indirect Taxes, The Economic Survey and the new heads under:
Social Welfare
Rural Welfare
Other Development
– Space
– CG
Services Infrastructure
– Health
– Education
– Transport Infrastructure
– Roads
– Ports
– Air/Aviation
– Other
Utility Infrastructure
– Power
– Water
– Other
Urban Infrastructure
– Housing
– Other
Defence
Revenues
Direct Taxes
– Pre Direct Tax Code
– Post Direct Tax Code (top Slab) > 25 Lacs (~$60000)
– EET
– Wealth Tax (.25%)
Indirect Taxes
– Roll back of Stimulus
– New Taxes
– Additional value from changed rates (negative for increase)
– Industry Impact
- Structural and rate changes
– Service Tax
– Customs
– Excise
Expenses (after State Share)
- Debt Servicing
– Capital
– Interest
The Other one is if you have a simple Asset calculation that shows MSA’s understanding of our Total Assets (GDP)
A similar project is likely as analysis post budget for Obama, where OMB has a lot of back up documents, Do you have a public budget document for India or any other analysis you want to share with us? Please send in the stuff before Monday begins (in earnest)
Each of these above is an important impact this year and decade..
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