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Economists suggest FM to focus on fiscal consolidation
Urging Finance Minister Pranab Mukherjee to keep the focus of the forthcoming Union Budget on fiscal consolidation rather than harping more on populist measures, country’s leading economists on Wednesday suggested that expenditure on such measures should be curbed and there should be decontrol of diesel, higher excise duty on diesel cars and use of cash transfer system to distribute subsidies directly to the beneficiaries among others.
During a pre-Budget meeting with Mukherjee economists opined that the primary task of this year Budget should be to restore a sense of confidence among the investors both domestic and international in India’s growth story.
They said that Budget should be used as an instrument for restoring the confidence of the investors. They asked the Finance Minister to make this year Budget a Policy Budget rather than only a statement of account. Many economists suggested that the message of fiscal consolidation should also be sent through the Budget.
Urging Finance Minister Pranab Mukherjee to keep the focus of the forthcoming Union Budget on fiscal consolidation rather than harping more on populist measures, country’s leading economists on Wednesday suggested that expenditure on such measures should be curbed and there should be decontrol of diesel, higher excise duty on diesel cars and use of cash transfer system to distribute subsidies directly to the beneficiaries among others.
During a pre-Budget meeting with Mukherjee economists opined that the primary task of this year Budget should be to restore a sense of confidence among the investors both domestic and international in India’s growth story.
They said that Budget should be used as an instrument for restoring the confidence of the investors. They asked the Finance Minister to make this year Budget a Policy Budget rather than only a statement of account. Many economists suggested that the message of fiscal consolidation should also be sent through the Budget.
