Is India Hedged Against Systemic Risk?
Dr. Manoranjan Sharma
Chief Economist, Canara Bank, Head Office, Bangalore
Mrs. Archana Choudhary, IRS
Commissioner of Income Tax, Bangalore
In recent times, there has been a great deal of debate and discussion about the deterioration in the macro-economic parameters of emerging countries in general and India in particular. While India is not significantly impacted by the global economic turmoil, it cannot remain impervious to the winds of change sweeping other countries. Further, the economic deceleration in India severely constrains the capacity to meet serious developmental challenges. The double whammy of fiscal and current account deficits, high consumer and industrial inflation, low real wage growth and a serious contraction in investment, hamper economic recovery. The lack of any real headway on issues like Goods and Services Tax (GST), Direct Taxes Code (DTC) is disconcerting because of the negative impact on tax buoyancy, collecti ?????????????????????????????????????????????????%??????Q???????a?????????d????????????????????????????????????????q??????????????????t????q??????????????????t?????????a??????????????????d?????????????????????????????????????????????????????()%?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????Q??????????????????????????????????????????????????????? @??????????????????????????????????????????????????????????%??????????????????????????????????????????????????????????????????????????????????????????????????????????????????????%????????????????????????????????????????????????????????????????????????????????????????
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