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- 1. ACADEMIC WRITING Topic:-FISCAL DEFICIT AND ITS TRENDS IN INDIA Submitted by AMRTHA P Application no:10dc9997ed1711e9875f55404a470379 Department of economic studies Central university of Punjab, Bathinda
- 2. ACKNOWLEDGEMENT I would like to express my gratitude to the online course Academic writing because of which I could prepare this presentation. I also extend my sincere gratitude to the course coordinator Dr. Ajay semalty who has given a wonderful lecture on the course.
- 3. FISCAL DEFICIT AND ITS TRENDS IN INDIA
- 4. OBJECTIVES Analyse the trends of central government’s deficit in India in light of major economic events between 1980-2016.
- 5. TRENDS OF FISCAL DEFICIT IN INDIA ERA OF PRE LIBERALISATION ,1980-1981 TO 1990-1991 The main aim of policy makers is to give more expenditure on long term industries and projects. Government policy restricted the private sector engaging certain strategic sectors . Protectionist Approach.
- 6. Deficit of the central Govt. as percentage of GDP(1980-81to 1990-91) Years Gross Fiscal Deficit Revenue Deficit Gross Primary Deficit 1980-81 5.55 1.36 3.81 1981-82 4.93 0.22 3.11 1982-83 5.4 0.67 3.4 1983-84 5.69 1.11 3.6 1984-85 6.79 1.65 4.46 1985-86 7.55 2.03 4.96 1986-87 8.13 2.4 5.28 1987-88 7.34 2.48 4.29 1988-89 7.08 2.41 3.81 1989-90 7.1 2.37 3.56 1990-91 7.61 3.17 3.95
- 7. Post Liberalisation ,1990-1991Till FRBM Act,2002-2003 Indian economy facing financial crisis due to Gulf War. Foreign exchange reserve depleted. Govt. headed by NARASIMHA RAO, commenced economic liberalisation. New economic policy in 1991 . Reform in tax structure and reduce non capital expenditure. From 1990-2000 revenue receipts increased. Steady decline in Gross primary deficit and Gross fiscal deficit. Revenue deficit experienced positive impact.
- 8. Post FRBM Act,2003 Till 2015-2016 FRBM ACT brought into force in July 5,2004 . Fiscal consolidation . Between 2007-2009 central Govt. launched the few expansionary policies. Tax reforms undertaken by Govt. towards increasing the direct tax. During 2008-2009 the macroeconomic environment has been under the stress. Govt. activated a series of stimulus package central exercise duty cut 4%,ramping up additional plan expenditure about Rs.200 billion .
- 9. Continue… Interest subsidies for export finance . Tax reforms-direct tax revenue increased ,non direct tax and indirect tax revenue decreased.
- 10. Conclusion Period to 1991 saw large fiscal deficit and monetisation spill over to the external sector. Post 1990,the private sector share the burden of long term development. Fiscal deficit control until 1996-1997. Asian crisis in 1996 –huge fiscal deficit until the introduction FRBM act. FRBM Act, 2003 put the Indian economy on right track.
- 11. FEEDBACK The online course Academic Writing was a wonderful experience. This course is really useful for student, especially postgraduate students. Who are planning to do research in future. Also this course gives a deep insight in to various aspects of Academic writing. Also the lecture by Dr. Ajay semalty was very much interesting.