ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Under the IMF s Watch - The 1982-83 Budget

Under the IMF's Watch The 1982-83 Budget I S Gulati How can one find fault with a Budget that proposes a 21 per cent increase in Plan Outlay even when defence spending has to be raised substantially, reduces deficit financing from the level it had obtained in the year immediately preceding by almost 20 per cent, keeps direct taxes more or less undisturbed and at the same time is able to offer additional reliefs and/or concessions to savings, exports, inwards remittances from abroad and increased industrial productivity? Even if all this has been achieved under the direct or indirect guidance from the IMF (forgetting for the moment official denials, however forceful, that this is not so), how can one object to the Budget on objective considerations?

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