The government overshot the full-year fiscal deficit target in December itself but this could be offset by a pickup in tax revenue, money from disinvestment and spectrum auctions, surplus transfers by RBI, substantial savings due to tardy plan spending as also those in nonplan spending due to the fall in crude oil prices, a report stated.
According to reports, ahead of the budget, sections of the government favour creating spending space to boost growth within the current framework.
Under the current timeline, the government has to shrink the fiscal deficit to 4.1% of GDP this year, 3.6% in the next year.
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