•  The fiscal position of the Government, both central and States, is undergoing consolidation in terms of targeted reduction in fiscal deficit indicators. •  The current account deficit (CAD) to GDP ratio has been moderate in India. The current account remained in surplus during 2001-02 to 2003-04, before turning into a modest deficit since then.
I would like to pay tribute here to my predecessor, Willem Duisenberg, who was the initiator of our Cultural Days programme. I very much look forward to all of the 22 events that reflect the many facets of Dutch culture.