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Economic Survey of India 2010 Chapter 3 Fiscal - Jeywin

Economic Survey of India 2010 Chapter 3 Fiscal - Jeywin-2025

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The document discusses the fiscal developments and public finance in India, particularly focusing on the impact of the global financial crisis from 2008-09 onwards. It highlights the expansionary fiscal policies adopted to boost aggregate demand, the changes in revenue and expenditure patterns, and the implications for fiscal deficits. The analysis includes trends in tax revenues, government consumption, and budget estimates for subsequent years, emphasizing the need for a gradual resumption of fiscal consolidation while addressing structural issues in public finances.

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When was the economic survey separated from the Indian Union Budget?

The first Economic Survey of India was presented in 1950-51 as part of the Union Budget. After 1964 it was separated from the Budget and presented each year during the Budget Session before the presentation of the budget. The document is non-binding.

What was the fiscal deficit in 2010?

The fiscal deficit for the year 2010-11 was estimated at 5.5 per cent of GDP. This was in line with the commitment made in the Medium Term Fiscal Policy Statement presented along with the Union Budget 2009-10. The revenue deficit was estimated at 4.0 per cent of GDP in the year 2010-11.

What was the rank of the Indian economy in 2010?

2000 2010 Rise of Developing and Emerging Economies RankCountryShare of Contribution to Global GDP Growth 3 India 8.4% 4 Russia 3.8% 5 Brazil 3.1% 6 Japan 2.8%19 more rows

What happened in 2010 in the economy?

Real GDP, which declined 2.4 percent in 2009, expands 2.7 percent in 2010 and 3 percent in 2011, with monthly job growth averaging near 75,000 in 2010 and 175,000 in 2011. Unemployment is still close to 10 percent at the end of 2010, but closer to 9.5 percent by the end of 2011.

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