N. Mohana and Shri R. K. Sharma is gratefully acknowledged. 1. Shri A. K. Handa, Chairman, Centre For Integrity, Governance & Training on Vigilance Administration (CIGVA); Shri S .K. Goel, former CMD, UCO Bank; Shri R.V. Verma, Chairman, NHB; other officials of CIGVA; delegates to this seminar on Vigilance Administration, ladies and gentlemen!
As with temporary sales-tax reductions, making the period reasonably short could accelerate investment expenditures to the time when aggregate demand is weakest. A pro and a con are associated with focusing on investment instead of consumption. The advantageous feature is that investment represents capital deepening--the whole goal of keeping the long-run general government budget in balance is to encourage an investment-oriented economy.