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India's Financial Health Much Worse than What has been Reported, says Former Finance Secretary SC Garg

Former Secretary at the Ministry of Finance says that India's financial health is much worse than what has been portrayed. 

 

INDIAN ECONOMY

Exports contract for fifth straight month in December, imports shrink 8.8%.

A Mixed Bag: Exports from India shrank 1.8% to $27.36bn in December - contracting for the fifth straight month, on the back of lower receipts of processed petroleum exports and ongoing broad-based decline plaguing all major foreign exchange earning sectors. 

 

Meanwhile, imports were down 8.83% to $38.61bn - higher than the 0.3% fall in November, bringing down the trade deficit to $11.25bn during the month under review. BS

 

India's financial health much worse than what has been reported, says former Finance Secretary.

It Only Gets Much Worse: Shubash Chandra Garg, Former Secretary at the Ministry of Finance in a blogpost has said that India's financial health is much worse than what has been portrayed. 

 

The recently retired bureaucrat said that the government has left many of its expenses hidden, amounting to over ?4L cr ($57bn). He also revealed that India’s fiscal deficit for 2017-18 is at least 0.9% more than what was reported. Business Insider

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