Latest Breaking News On - பொருளாதார பாலிஸீ குழு - Page 6 : comparemela.com

Growth push scores over prudence The fiscal loosening, it is hoped, will boost growth and lead to more jobs The Budget announcements by the Finance Minister, made in the background of the pandemic, have largely been on expected lines expect that the fiscal deficit number has turned out to be much larger than expected. The expectation was that the fiscal deficit in the current year would be 7.5 per cent, which turned out to be 9.5 per cent of GDP. For 2021-22, the expectation is that the budget deficit will be kept around 5.5 per cent of GDP, but the Finance Minister has projected a higher fiscal deficit number of 6.8 per cent of GDP. This increase can be attributed to the fact that the Government has decided to discontinue the practice of giving loans to the Food Corporation of India (FCI) and bring the subsidy to FCI transparently in the Budget number. This has increased the deficit number by about 1 per cent. This is, however, welcome and in the interest of fiscal transparency

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