Opportunities
Swift and broad based growth in 2010-11 has put the economy back to its pre-crisis growth trajectory. Fiscal consolidation has been impressive.
Significant progress in critical institutional reforms that would set the pace for double-digit growth in the near future.
Dynamism in the rural economy due to scaled up flow of resources to the rural areas.
Challenges
Structural concerns on inflation management to be addressed by improving supply response of agriculture to the expanding domestic demand and through stronger fiscal consolidation.
Implementation gaps, leakages from public programmes and the quality of outcomes pose a serious challenge.
Impression of drift in governance and gap in public accountability is misplaced. Corruption as a problem to be fought collectively. Government to improve the regulatory standards and administrative practices.
Inputs from colleagues on both sides of House are important in the wider national interest.
Budget 2011-12 to serve as a transition towards a more transparent and result oriented economic management system in India
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