The staggered recovery in the economy has apparently terminated the growth dynamics of major industrialized economies and the developed nations. The declining growth rates of the household and the shyness of the business market has been adversely affecting the world trade and the employment scenario simultaneously. The huge funding requirements of the banks and the sovereigns can be also regarded as one of the major problems of these nations. On the other hand the emerging and the developing markets in the global platform at the same time are growing at an accelerated rate2. Similarly one of the world’s developing nations i.e., Indian economy has grown rapidly since the beginning of the 1990s despite a large and growing fiscal deficit and rising public levels relative to output. Despite the economic upheaval in the time span of 2007-09 and the downsizing of the global events particularly the random fluctuations in the movement of the prices of the crude oil, the economy of India has faced remarkable growth and has worked on the further growth and development in their economic conditions with consolidated enhancement in the key macroeconomic indicators3. The Indian economy with a strong economic base and resilience, encountered a solid growth rate of around 8.4 percentages during the phase of 2010-2011 with the emergence of one of the fastest developing countries. The agriculture sector has followed strong performance inculcated with strong pace of growth in the industrial and services sector. The Growth rate in Gross Domestic Product around a percentage of 8.4 can be highly attributed to the magnificent growth rate in major sectors like growth in transport, storage and communication (14.7%), financing, insurance, real estate & business services (10.4%), trade, hotels & restaurants (9.0%), and construction (8.0%).The growth rate of the primary sector i.e. agriculture, forestry & fishing has shown a high growth of 7.0 per cent during 2010-11 in comparison to around 1.0 per cent during the year 2009-10. The growth of the secondary sector is 7.2 per cent and that of service sector is 9.3 per cent during 2010-11. In this case the fiscal policies adapted and implemented by the government is stupendously crucial as it is one of the most significant parameter in the determination of growth rates and development4. Thus the basics of the fiscal policy and its relevance with respect to the Indian economy will be explained in the subsequent section. The crux of the fiscal policies generally refers to the combination of several practices of the government with respect to revenues, expenditures, and debt management. The fiscal planning mechanism is generally done within the context of Public Services Program (PSP), Operating Budget and the Capital Improvements Program (CIP)/Capital Budget reflects and helps shape fiscal policy. The process of budget not only reflects the fiscal policies currently in action but it is itself a major propelling vehicle for the determination and the implementation of such policies. The fiscal policies are not general sets of rules or norms which are taken as yardstick of measurement but they are basically variable sets of rules which changes with the change in the economic environment of an economy5. The implications of the fiscal policies are immense as because the continuous fiscal imbalances and the
Is the Fiscal policy of India Sustainable? Chapter 1: Introduction The contemporary economic positioning of the world can be seen as a bifurcation into two speed economy. With the devastating effects of the great recession in 2008, there has been a well drawn advancement in the global economic condition with a jet propulsive speed in a dual dimension1…
The researcher with the aid of a diagram shows and explains how fiscal policy can be used to shift the aggregate demand. The study evaluates the effectiveness of the policy used and the appropriateness of the government’s fiscal policy stance. It explain the fiscal policy stance adopted using the 2010-11 Australian Government’s Budget papers and with the aid of statistics.
The intention of this study is India as a land of diversity. There is diversity of religions, cultures, traditions, languages, norms, values, foods, beliefs and professions. The diversity is so profound that the low caste Hindus are considered inferior to the Hindus belonging to the superior classes.
As a result, the sustainable housing policies sought would help ensure that houses built are ideal, comfortable and eco-friendly. Besides known stakeholders in the construction industry such as construction companies,
Most of these mediums of transport are fuelled by petroleum oil, not many by alternative fuel. Oil however has long been considered an environmentally hazardous material and causes various ecological dangers which are harmful to the environment. These dangers also represent risks for the future thereby presenting unsustainable dangers for future generations.
RESEARCH METHODOLOGY 17 6. EXPECTED RESULTS 17 7. CONCLUSION AND RECOMMENDATION 18 References 19 1. INTRODUCTION Today’s world is normally faced with several problems; these problems range from environmental problems such as pollution to financial problems such Global Recession and Eurozone.
Employers exploiting children for cheap labour do not exercise virtue ethics. Virtue ethics encourage people to develop kindness and generosity. In other words, such farms instead of employing children should be kind and generous enough to fund education for such children.
Translating growth in oil receipts into prosperity for the people of Iraq is a promise as well as a challenge. Legal, regulatory, logistical, political, institutional reform, security, and workforce are formidable aspects that challenge Iraq. A major challenge facing Iraq is the need to increase investment funds to promote sustainable development in the developing nation.
In the present era, the notion of “Sustainable Development” although sometimes controversial, has become consciously more and more important towards a desire for human activity being carried out in a more responsible manner for the welfare and preservation of the present and future generations. Efforts are being undertaken by different actors.
The notion of the significance of housing is as old as the idea of human beings forming groups in order to sustain their existence and perpetuate their race. It is not surprising that people who are members of the housing construction sector are always on the look out for new ways on how improvement can be continuously integrated in the sector.
39 pages (9750 words)Dissertation
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