The forthcoming Budget could think of maintaining public capital expenditure at 3 per cent so that domestic resources are available for private investments, points out N R Bhanumurthy.
In industrialised countries inflation is less than 2 per cent, while most of the developing countries experience nearly double-digit or more inflation
Though there may still be some headroom for growth, IEG's econometric model suggests there could be turning point downwards in the IIP growth cycle in the near future.