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Chidambaram's deficit targets were based on "overly optimistic" revenue projections

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Chidambaram's deficit targets were based on "overly optimistic" revenue projections Empty Chidambaram's deficit targets were based on "overly optimistic" revenue projections

Post by rawemotions Fri Jul 04, 2014 10:09 am

http://profit.ndtv.com/budget/why-arun-jaitley-may-breach-chidambarams-red-line-on-fiscal-deficit-580485?pfrom=home-otherstories

Excerpts
Mr Chidambaram's deficit targets were based on "overly optimistic" revenue projections, note the Deutsche Bank economists. Mr Chidambaram provisioned for 19 per cent rise in gross tax revenues (300 basis points higher than the long-term average), 26.8 per cent growth in personal income tax receipts (700 basis points higher than the averages), 18.8 per cent rise in indirect tax receipts (versus long-term average of 14.1 per cent).
Mr Chidambaram also budgeted non-plan spending growth at 8.3 per cent year-on-year against long-term average of 13.4 per cent

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