We are looking at a more integrated strategy where decisions are not taken based on short-term fiscal priorities, or to fill some gap in the budget by having to dispose of certain shares at certain points in time, Somanathan explained.
Financial allocations to states are based on uniform guidelines that leave no room for discrimination, Finance Secretary TV Somanathan told NDTV Tuesday afternoon.
India will monitor flows of foreign funds after its inclusion into JPMorgan s emerging market debt index to prevent hot money and volatility in currency and bond markets. The government s concern is with longer-term investors who exit passively without reflecting economic conditions. India plans to raise nearly 200 billion rupees through sovereign green bonds in the 2024/25 fiscal year, maintaining a similar level as last year
The government is confident of meeting the targets in the interim budget presented on Thursday. Finance Secretary TV Somanathan stated that the government capital expenditure continues to be high and expressed confidence in achieving the 5.1% fiscal deficit target in 2024-2025, with estimated revenue growth of 11.5% against GDP growth of 10.5%. The nature of public expenditure is unpredictable, but barring unforeseen events, the aggregate public expenditure is projected to remain unchanged, he added.