Policy Perspectives, Vlm 3, No.2
The significance of the budget document lies in the central position it occupies in the financial matters throughout the fiscal year. It emerges as a snapshot of financial resources and their allocation, mobilization, expenditure as well as an index of economic policies and priorities.
The present paper discusses three related topics. First, it carries a brief review of the existing development policy. Second, the areas where the present policy is inadequate.
For many reasons, agriculture has become a linchpin for the ongoing WTO-mandated negotiations. In the first place, the developing countries (DCs) genuinely feel that they were shortchanged during the Uruguay Round of Multilateral Negotiations, for market access promises did not go beyond lip-service.
Lack of sufficient taxation resources results in stunted growth of representative and democratic institutions and, non-tax revenue, specifically foreign aid, contribute to stability and longevity of specific regimes.
Former Finance Minister’s keynote address at IPS exploring the options and required strategies beyond borrowed time, fancied but shallow growth, conspicuous consumption and consumerism.