Shankar Acharya, Honorary professor at Indian Council For Research on International Economic Relations (ICRIER), said the revenue deficit and fiscal deficit targets for the financial year 2012-13 are not ambitious enough. He said that though the revenue deficit is targeted to decline from 3.9 per cent in the Revised Estimate for 2012-13 to 3.3 per cent next financial year in the budget.  This is still three times of the figure (1.05 per cent) in 2007-08, he pointed out.

These two individuals have correctly pointed out that even though entrepreneurship is blooming throughout the country it has not impacted the economy in a positive way yet. Perhaps it is because most of the startups that have sprung up are in their initial stages and are still developing their products – has the fate of India’s economy fallen to these young aspiring individuals? Even if it hasn’t yet, these blooming buds will aid our country with valuable jobs and global connections.

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