The Central government is stuck between the devil and the deep blue sea as far as the runaway fuel prices are concerned.
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India's CAD -- the gap between inflow and outgo of foreign exchange -- widened to a record high of $88 billion or 4.8 per cent of the gross domestic product for the fiscal ended March 31, from $78.2 billion in 2011-2012, about 4.2 per cent of the Gross Domestic Product.
'We have the more difficult reforms to do such as the reduction of subsidy, the insurance and pension sector reform, eliminating bureaucratic red tape and implementing Goods and Services Tax'
Govt has drawn list of PSUs for strategic sale: Jaitley
Showing signs of financial strain, the government's fiscal deficit in the first five months of the ongoing financial year has already touched 74.6 per cent of the budget estimate.
On Tuesday, the domestic currency had gained 13 paise to close at nearly four-week high of 60.43 against the American unit following fresh dollar selling by exporters and sustained investments by foreign funds.
The report said forward-looking surveys and economic indicators along with rising business confidence provided hope that the decline in private corporate investment 'could be arrested' in 2014-15 and fresh investments of over Rs 1.2 lakh crore (Rs 1.2 trillion) 'could be realised'.
Last year this time, India was grappling with an imminent sovereign downgrade, with an uncontrolled fiscal deficit, policy paralysis of the highest order with no economic reforms for eight long years and a weakening rupee.
"The issue in Iraq is still an area of uncertainty.
The import tariff value -- base price at which customs duty is determined to prevent under-invoicing -- is revised on a fortnightly basis.
'That is not a democratic ideal obviously, but it is a practical reality.' 'It is a consistent feature of politicians in Pakistan that their rhetoric on the army softens the closer they get to the seat of power.'
India's fiscal deficit touched Rs 4.57 lakh crore or 84.4 per cent of budget estimates in the first seven months of the current fiscal, reflecting signs of stress in government finances.
On growth, the Governor said the prospects in the last few months have improved.
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