United Front's plan reflects pragmatism

Article Abstract:

India's new prime minister H.D. Deve Gowda has unveiled an economic policy intended to guide the efforts of his United Front coalition of socialist, regional and lower-caste parties in fighting against poverty and promoting economic development. According to the 25-page document, the Gowda administration will not reverse the economic reforms implemented by the previous Congress Party government, but will try to pursue 'growth with social justice.' Analysts, however, criticize the policy blueprint for lacking substance.

Economic Programs, Administration of Economic Programs, Deve Gowda, H.D.D.

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India's high interest rates, credit crunch are putting brakes on economy's growth

Article Abstract:

The Reserve Bank of India has taken the reins to control India's financial problems. It has prevented foreign investors from playing in India's money markets despite the sky-high interest rates to slow down inflation. Although it has succeeded in reducing inflation from 11% in 1991 to 4.5% as of Jan. 1996, the strategy has slowed down the economy to a threatening pace. Economic analysts fear that keeping out foreign investors will widen the interest-rate gap and depress the economy even further.

Evaluation, Interest rates, Inflation (Economics)

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India's budget has appeal for citizens and foreigners

Article Abstract:

The Indian government has formulated a new budget that is seen to be appealing to both local and foreign business communities. Projections for the $57.6 billion budget includes a forecasted 16% increase in revenue. Since expenditures will rise by only 13%, fiscal deficit is expected to go down. The formation of a coalition government has resulted to the development of pro-poor policies, such as subsidies on the food and agricultural sector.

Legislative Bodies, Budget, Budgeting, Budgets

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