Revitalizing economy by balancing defence & development

Abstract

In this template, fiscal deficit is taken as an entry point. Successive governments have been trying to meet this deficit by inflating the revenues and deflating the expenditures. They rely on indirect taxes as a major source of revenue. Increasingly, major expenditures can be categorized into 4Ds: 1. Debt Servicing 2. Defence 3. Day-to-day Administration 4. Development Likewise, this time too, the net federal revenue would be barely sufficient to meet the first two “Ds” and the rest of the expenditures would be met through borrowing and external assistance.