Annual Report Of The Country (Part 1)
12 January 2010
As the morning sun cast golden rays over the grand Vijayanagara Palace, the atmosphere inside the Council Hall was solemn yet expectant. Ministers and officials, dressed in their traditional robes, had gathered for the annual economic review. The air was thick with anticipation—this was no ordinary meeting. The future of the empire's economy would be shaped today.
At the center of the hall, Sriranga Deva Raya, the ruler of Vijayanagara, sat with composed authority, his presence commanding the attention of everyone in the room. Beside him sat Krishna Deva Raya, the Crown Prince, whose rapid economic reforms had already begun to bear fruit.
With a brief exchange of greetings, Sriranga Deva Raya spoke first, his voice deep and steady.
"Two more days until Makar Sankranti," Sriranga Deva Raya mused aloud, his voice echoing in the vast hall. "As we celebrate the harvest, let us first reflect on the fruits of our economic efforts."
Sriranga Deva Raya speaks again in his deep and steady voice.
"In the past year, we have received many great reports about our economic progress. The foundation for long-term growth has been laid, and today, we shall review our nation's performance. Director Amit Shah, please present the economic report."
Amit Shah, the Director of the National Bureau of Statistics, stood up, adjusting the papers in his hand. His expression was serious yet confident.
"Thank you, Your Majesty. Thanks to the tireless efforts of the National Bureau of Statistics and its thousands of employees, we have successfully compiled the economic data for the past year. I am pleased to report that our country's GDP has experienced significant growth."
The room fell silent as he continued.
"In 2009, our GDP was 308.7 billion Varaha ($94 billion USD). This year, it has risen to 447.7 billion Varaha ($136.9 billion USD), an increase of 139 billion Varaha. This represents a remarkable 55.17% year-on-year growth. The appreciation of our currency, now at 3.27 Varaha per US dollar, has also contributed to this increase."
Murmurs of approval rippled through the hall as ministers exchanged impressed glances. The rapid economic expansion was beyond expectations.
"A major contributor to this growth is the pharmaceutical industry," Amit Shah continued, his tone growing animated. "Thanks to His Highness the Crown Prince's visionary leadership, the pharmaceutical sector has surged to 34 billion Varaha, accounting for 7.1% of the total GDP. In the past three months alone, its revenue has multiplied several times."
Ministers nodded in agreement, many smiling at the unexpected dominance of pharmaceuticals even before oil production had begun.
Amit Shah then listed other key sectors:
• Agriculture: 57.7 billion Varaha
• Forestry: 5.8 billion Varaha
• Fishery: 21.3 billion Varaha
• Fruit Industry: 28.8 billion Varaha
• Urban Investment: 93.3 billion Varaha
• Tourism: 1.9 billion Varaha
• Service Industry: 142.2 billion Varaha (7.1% year-on-year increase)
Applause erupted in the council hall as officials absorbed the impressive figures.
"Unbelievable! The pharmaceutical sector alone has driven over 30 billion Varaha in growth!" one minister exclaimed.
"This is why European and American firms invest so heavily in technology," another added. "The economic benefits are enormous!"
"Not only that," a third minister chimed in, "but the most popular animated film right now is also from our Crown Prince's company. I hear its global box office revenue might reach 700 million USD!"
The enthusiasm in the hall was electric. Just a few years ago, such achievements seemed like distant dreams.
Sriranga Deva Raya raised his hand, signaling for silence.
"While we should be proud of our accomplishments, we must not grow complacent. The past is behind us. Our task now is to continue this momentum and build an even stronger Vijayanagara Empire."
The ministers straightened in their seats, understanding the gravity of his words.
Fiscal Revenue and Expenditure
With the review of the previous year's GDP complete, Finance Minister Ravi Sharma stepped forward, adjusting the microphone before him.
"Your Majesty, I will now report on last year's fiscal revenue and expenditure."
Flipping through his documents, he began:
"In 2009, our national fiscal revenue was 78.347 billion Varaha. The breakdown is as follows:"
• Corporate Tax: 21.73 billion Varaha
• Personal Income Tax: 15.25 billion Varaha
• Consumption Tax: 11.61 billion Varaha
• Other Taxes: 2.77 billion Varaha
"However, national fiscal expenditure reached 81.13 billion Varaha, leading to a fiscal deficit."
A slight murmur spread through the room. Ravi Sharma continued, addressing their concerns.
"The deficit was largely due to heavy infrastructure investments, including new docks, airports, and an expanded highway network. For example, one airport alone requires 1-2 billion Varaha in investment. Currently, two airports are undergoing expansion, and three new ones are under construction. The costs are enormous."
Ministers nodded, understanding that such investments were necessary for long-term economic sustainability.
Ravi Sharma then shifted focus to the economic outlook for 2010.
"Next year, our fiscal situation will improve significantly. Three key factors will drive this change:"
1. Oil Revenue: Expected to generate 30-40 billion USD (equivalent to 98-130 billion Varaha).
2. Expansion of the Crown Prince's enterprises: Rapid growth in pharmaceuticals, technology, and entertainment.
3. Tourism Boom: Completion of major hotels and resorts will significantly increase revenue.
Taking a brief pause, he then revealed the estimated fiscal revenue for 2010:
• Total Revenue: 110 billion Varaha
• Oil Revenue: 32 billion Varaha
• Corporate Tax: 27 billion Varaha
• Personal Income Tax: 17 billion Varaha
A wave of relief and excitement spread across the ministers. The economy was on an upward trajectory, and prosperity was within reach.
Budget Allocations
Ravi Sharma then moved on to the expenditure budget for 2010:
• Ministry of National Defense: 20.5 billion Varaha (33.1% increase)
• Ministry of Transportation: 11.7 billion Varaha (11.3% increase)
• Ministry of Health: 17.5 billion Varaha (5.4% increase)
• Ministry of Education: 12.2 billion Varaha (3.5% increase)
"The total estimated budget expenditure for 2010 is 91 billion Varaha, leaving an expected fiscal surplus of 9 billion Varaha," Ravi Sharma concluded.
A round of applause filled the hall.
Sriranga Deva Raya leaned forward, his gaze scanning the faces of his ministers.
"We are entering a new era of economic strength. But with prosperity comes challenges. We must remain vigilant—international powers are already wary of our oil independence, especially with our partnership with Russia's Gazprom. Our military must be prepared, our economy must stay strong, and our people must thrive."
The ministers nodded in unison. The future of Vijayanagara was bright, but it was their duty to safeguard it.
The meeting adjourned, but everyone left the hall with renewed determination. A new chapter of economic prosperity was beginning.