The forthcoming interim budget is expected to meet the FY24 fiscal deficit target of 5.9%. Enhancements to India's fiscal capacity are needed instead of large spending cuts. Infrastructure capex push is bridging the infrastructure gap and creating construction jobs. Steep public spending cuts should be avoided as it could drag down growth. India's fiscal problem lies in raising enough revenue. Better revenue mobilisation will reduce the share of revenue deficit in the overall fiscal deficit. Efforts to enhance revenue should be prioritised alongside maintaining quality public spending and lowering the fiscal deficit ratio. Read The Rest at :
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