Apart from domestic factors, it is increasingly being recognized that global factors would play a far greater role than before in view of progressive opening up of the Indian economy resulting in greater financial integration over and above the traditional trade integration.
The factors which would merit attention in drawing prospects for the public sector include the progress in public finances in the remaining period under the FRBM Act and beyond, the scope and scale of the likely impact of the Sixth Pay Commission award and streamlining of expenditures.