Archive for February 29th, 2008

Union Budget (2008-09) and Economic Survey (2007-08)

February 29, 2008

Both highly awaited documents have been released.

The Union Budget is here and Economic Survey is here. I will post my comments later.

PS: This is a blog post number 500. This is a lot of blogging.


We would most likely be reading the budget document to fund out the fiscal deficit for the year, government borrowings, various proposals etc.

However, one must also look through this document as well. It tells you the promises made in last year’s budget and the status of the same. 

Assorted Links

February 29, 2008

1. Econbrowser has some great commentary on  Bernanke’s tightrope walk (balancing both low growth and high inflation) . It says:

In any case, the tightrope analogy seems a misleading way to frame the issue, in that it presupposes that there exists a choice for the fed funds rate that would somehow contain both the solvency and the inflation problems. In my opinion, there is no such ideal target rate, and the notion that we can address the difficulties with a sagely chosen combination of monetary and fiscal stimulus and regulatory workout is in my mind doing more harm than good. Better for everyone to admit up front just how bad the problem is, and acknowledge that there is no cheap way out.

2. WSJ Blog points to a thought on development from World Bank’s new chief Economist- Justin Lin.

3. WSJ Blog points Bernanke says situation could be worse than in 2001. But he also he doesn’t see recession ahead. But 2001 was termed as a recession. So what is going on? Read the first assorted link for calrity

4. WSJ Blog has good secondary sources.

5. Earlier, Rodrik deliberated on him taking political science early in his career. Towards the end of the post, he said he would explain later as to how he became an economist. Here it is

6. PSD Blog points to a surprising paper on socialism.

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