The Hindu : Andhra Pradesh / Hyderabad News : Concern over high fiscal deficit

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Thursday, Jul 09, 2009
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Andhra Pradesh

Andhra Pradesh - Hyderabad

Concern over high fiscal deficit

— PHOTO: P.V. SIVAKUMAR

Expert speak: Y. Harishchandra Prasad of CII, A. Viswanath of GMR, S. Thirumalai of Deloitte, J. A. Chowdary of IndUS, Mubin Rafat of ASCI and B. Shivaranjani Reddy of CSR Business School at ‘Budget Talk 2009’ on Wednesday.

HYDERABAD: Speakers at a panel discussion expressed concern over the high fiscal deficit projected at 6.8 per cent of GDP in the Union budget presented on Monday.

The high fiscal deficit was unacceptable to foreign investors resulting in crash of market on the budget presentation day. But, the government had not charted out a road map for bringing it down, said experts at ‘Budget Talk 2009’ organised by Business Line Club at Villa Marie P.G. College on Wednesday.

The speakers included ASCI area chairperson Mubin Rafat, CII State chapter chairman Y. Harishchandra Prasad, The IndUS Entrepreneurs president J.A. Chowdary, Deloitte Touche Tohmatsu India senior advisor S. Thirumalai and RGIA chief operating officer A. Viswanath. Prof. Rafat said the budget “failed completely” in encouraging capital investment.

The CII-AP chief said ‘populist giveaways’ were preferred over economic growth. The discussion was moderated by M. Somasekhar, Chief of Bureau, Business Line, Hyderabad. Over 300 students participated in the programme, which was sponsored by the CSR Business School.

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