Union budget (2003-2004): in the backdrop of 10th plan
- 2003
- p.23-25.
- Apr
Necessary fiscal correction to achieve 8 percent growth assumes several policy changes to increase the revenue receipts from 9 per cent of GDP to 10.2 per cent of GDP; to reduce revenue expenditure from 12.5 per cent to 10.7 percent through reduction of subsidies and downsizing etc. The ultimate objective is to reduce the revenue deficit of the Central Government from the present level 3.4 per cent in the 9th Plan to 0.5 per cent during the 10th Plan. - Reproduced.