CIAO DATE: 11/03

Opportunity Lost? Indian Budget 2003–2004

Amir Ahmad and Teresita C. Schaffer

The South Asia Monitor
Number 57
April 01, 2003

The Center for Strategic and International Studies

 

Abstract

India’s budget for fiscal year 2003–2004 will make some contribution to short-term growth but continues the piecemeal approach to economic policy apparent in the last two budgets. With four key state elections during the first half of 2003 and national elections due in 2004, we can expect India’s economic policy to muddle through rather than taking bold initiatives. India’s growth, under these circumstances, will depend largely on the weather and on a few major investment decisions, and it is not likely to surge ahead in the immediate future.

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