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Home > Business > Reuters > Report
Govt revenues a fiscal concern: RBI
May 09, 2003 12:34 IST
Reserve Bank of India Deputy Governor Rakesh Mohan said on Friday that government revenues rather than expenditure were a fiscal concern. "There is a great requirement for fiscal correction at the central and state levels, but that has more to do with revenue, no longer expenditure," Mohan told a business gathering. India's central and state governments have a combined fiscal deficit of nearly 10 per cent, one of the highest in the world, leaving little money for health, education and social development in the world's second most populous country. India aims to control its runaway deficit at 5.3 per cent of GDP in the year to March 2004, compared with 5.9 per cent in the past year.
© Copyright 2003 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
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Number of User Comments: 3
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Sub: Eradicate tax,bills evasion
It is time now that tax evasion , non payment of elect and other , bills be eradicated by stern measures. Also the tax base ...
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Posted by Sameer
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Sub: Fiscal Concern
This is what happens when there is no commitment from the elected representatives to do good to the nation. Example- Delayed VAT implementation. This may ...
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Posted by Latch
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Sub: Govt revenues
Any solution/ Why not disinvest fast? what is the obstacle therer?
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Posted by Malathi
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