Greenbudgeting: essential for sustainable economic growth

Even though Asia has been afflicted with a serious economic crisis during the end of the 1990s, India has done reasonably well in maintaining a healthy rate of growth. The current phase of economic reforms being implemented by the Government of India has raised expectations that economic growth will be accelerated even further, and investments for key sectors of the economy enhanced in the coming years. The Budget of the Government of India due to be presented by the Finance Minister, Mr Yashwant Sinha on 29 February is, therefore, being awaited with great expectations and hopes that it would spur a higher rate of growth of the Indian economy. There are undoubtedly concerns about the budget deficit, which has been threatening to go out of hand, particularly if we look at the combined deficits of the states and the union government. The situation looks daunting, but can be brought under control with effective fiscal discipline. Full Text