The Indian economy is estimated to have registered a growth rate of 5.0 per cent in 2012-13 in terms of gross domestic product at factor cost at constant 2004-05 prices, following a growth of 6.2 per cent in 2011-12. Growth in 2011-12 and 2012-13 is on the lower side, in the context of the decadal average of 7.9 per cent during 2003-04 to 2012-13. This is attributable mainly to weakening industrial growth in the context of tight monetary policy followed by the Reserve Bank of India (RBI) through most of 2011-12, and continued uncertainty in the global economy.
However, with widespread reform measures initiated in recent months and the global economy poised for a moderate recovery in 2013-14, the Indian economy is expected to witness an improved outlook in 2013-14. Reform process under taken in the current year, forms the basis of fiscal policy of the government during 2013-14. Proactive policy decisions, contained government spending to provide space for private investment, along with reforms to attract capital inflows are expected to be key drivers of growth revival during 2013-14.
IS Advisors takes you through the strategic review of Union Budget 2013-14 on the economy in this report. The report provides useful and comprehensive information about the current status of Indian economy, fiscal steps and other government policies stated in Union Budget 2013-14.
SCOPE OF THE REPORT
Overview of the Economy
Trend in GDP growth rate
Government’s fiscal roadmap
Budget at a Glance
Budget Estimates for 2013-14
REASONS TO BUY
To understand the key government policies on the overall economy
The report will assist in formulating strategies for Indian financial market