Category: Economic Flash Published on Wednesday, 30 July 2014 04:02
Prime Minister Modi’s elections were hailed as a resounding victory for his pro-growth/pro-business agenda. There was an expectation among pro-market economists and businessthat Finance Minister Arun Jaitley’s maiden effort would lay out a vision for five years; introduce major structural reforms; and administer some necessary but bitter medicine in pursuit of fiscal consolidation. Instead, critics claimed that the budget seemed to have been prepared by incumbent bureaucrats and represented unimaginative continuity rather than a bold new vision.
Last Updated on Wednesday, 30 July 2014 04:03
Category: Economic Alert Published on Tuesday, 22 July 2014 04:10
Sri Lankan farmers, small and medium enterprises, service providers, big businesses and households have been afflicted by one of the highest electricity tariffs in the world and uncompetitive fuel costs for many years. This has been undermining the economy’s competitiveness thereby discouraging investment and employment generation. The enormous losses incurred by the CEB and CPC have added to the debt burden imposed on the current and future generations of Sri Lankans.
Last Updated on Tuesday, 22 July 2014 04:19
Category: Economic Alert Published on Thursday, 10 July 2014 07:58
The Indian Budget Speech, to be delivered by Arun Jaitley today, is likely to be the most reform-oriented since Dr. Manmohan Singh’s much heralded effort in 1991. India’s growth rate has halved to 4.5% last year. Policy paralysis has reduced confidence among both domestic and foreign investors. Bureaucratic inertia had stalled the pipeline of large infrastructure projects. The budget deficit had increased to unsustainable levels and inflation was persistently high leading to elevated interest rates that stifled economic activities.
Last Updated on Thursday, 10 July 2014 08:00