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There is no indication that manufacturing activity has picked up. Unemployment is low and the new tax laws are likely to yield an improvement in tax revenues, much to the annoyance of critics of the Trump administration. This is important from the political point of view as well, given the unrest in the rural areas that has been witnessed in the last couple of years. Revenue receipts are still low as a percentage of GDP compared with other developing countries, and revenue expenditure exceeds these receipts, forcing capital expenditure to be largely financed through borrowings. In short, no easy answers, but all options need to be tried.

In the long term, the era of the farmer making a living through cereal cultivation alone appears to be over, and all those that have diversified into other crops, like horticulture, fruits and organic farming, are benefitting from retus far higher than from rice and wheat alone. An alteative that was considered was a guaranteed income scheme, while this may take care of poverty and want in the short run, it will not provide livelihoods and skills required in the economy.B.Economic growth across the globe has already led to a hardening of commodity prices, with oil over $65 and other commodities including coal, copper and aluminum having gone up substantially in the last six months. Again, this is a problem that should have been tackled several Budgets earlier, but a start needs to be made. Improvements in education, incentives for investment, revival of the construction sector, and providing room for consumption expenditure are all needed, in addition to Govement investments in roads, ports, airports, metros and railways.And, elections are due in 2019, which means that the central Govement has to demonstrate that much has been achieved.There is good news from the USA as well. Next is the problem of employment.Investible funds are rolling over in the financial markets, and both private and public savings are seeking retus through what is essentially a mechanism of transfer of ownership from one hand to the other without necessarily creating any fresh goods or services. To introduce a new green revolution focusing on commercialising agriculture should be the goal, using all the technological resources China Foil Free laminates Suppliers of the agricultural departments, universities and the food processing commercial companies.Finally, the resources of the Govement, at the Central as well as the state level, are severely strained. Amidst this din, it appears important to take a reality check on the numbers as well as the expectations for 2018.First, even at 6. The media suddenly appears upbeat, and suggestions for the Budget are flooding the channels. Narayan is a former Union finance and economic affairs secretary. The FM is starting from this comfortable base. If on the other hand, domestic consumption is the focus, the priiority should be automobiles, light engineering, textiles, pharmaceuticals and fast moving consumer goods. This effort has been due for some time, and hopefully, there will be an announcement to revolutionise agriculture and agricultural incomes. He was also economic advisor to Prime Minister A. Govement has also promised a number of projects overseas, in Sri Lanka, Myanmar, Bangladesh and in certain parts of Africa — the progress is slow, and the multiplier effects to Indian industry are yet to be realised. ADB expects growth among its member countries to exceed 6%.That leaves the burden of investment back on the shoulders of the Govement, which can only do a few specific things like infrastructure and defence.It is important to look at private investment.5% growth, India remains among the top performers in the world. There are no indications of a slowdown in China.

The progress has been very slow.  At the core is the poor state of the education system that produces people unsuited for employment needs of the 21st century.7%. The World Bank indicates global GDP growth of over 3.5% in November and December 2017, crossing $700 billion for the first time. Retail sales were up 5. A significant reduction in corporate as well as personal income tax rates, including the removal of all surcharges, will help boost investment as well as consumption, and this is an opportunity to take a big bite on investment support.All this is not necessarily good news for India. Hardening commodity prices, especially oil, will result in higher foreign exchange outflows as well as higher retail prices for fuel and oil based products.Forecasts of global growth by the World Bank and the IMF for 2018 appear to indicate that the coming year would be one of robust growth, perhaps the best since the global financial crisis. He has been following a policy of prudent fiscal consolidation ever since he took over in 2014, and the small slippages are likely to be more due to an overestimation of nominal GDP numbers, rather than any imprudent expenditure. These are well within the means and purview of the coming Budget, and the economy looks robust enough to take advantage of these measures to record higher rates of growth. There is no indication that this will go down — on the contrary, all expectations are this will improve.Dr S. This gives him room to take on the more difficult problems. There is also a pressure for jobs and employment, which the economy is not able to meet, with over 10 million job seekers entering the job market every year. The delays in implementing GST 2 and 3 are allowing large leakages of revenue to happen.There appear to be no easy solutions. If exports are the focus, then there should be a large slew of concessions to the exporting industries. These must be plugged before they become endemic.The stock markets have been on a high, buoyed by information about lower Govement borrowings, better bank credit growth, and improved third quarter eaings of some companies and higher direct tax collections. The skill development initiatives have not succeeded, and the youth agitations are a clear indication of the frustration that is building up.1%, while IMF expectations are 3. In the absence of increases in exports, the trade deficit will increase.Finally, GST needs to be cleaned up. There is also likely to be inflationary pressures on the economy.

All the other programmes, like low cost housing sanitation and smart cities, for example, depend heavily on the performance of the partner in the programme, whether private individuals or city govements.Outside these numbers, there is distress in the rural economy, as retus from agriculture are inadequate to lift farmers out of poverty. While this appears to be an uphill task for the Finance Minister, yet several options are available to him.Vajpayee.  Savings are thus locked up in the markets, and unless these profits leak down into consumption, there is little likelihood that there will be a pressure on supply and thus an increase in production.An important one will be agriculture and rural distress. Pakistan and Bangladesh are doing reasonably well, with inflation under control and growth in the range of 5% to 6%. Reports are that over Rs 40 lakh crores has been the increase in asset valuations in the financial markets in 2017. It is important to pick a winner, and bet all on it.