The fiscal deficit target of 3 per cent of gdp was supposed to be met by March 2008. It won't be met by March 2023!
Several amendments and an 'escape clause' built into the FRBM Act in recent years has made it possible for successive governments to avoid meeting the target.
Is there an answer? I'm afraid not. We will keep muddling along until a global recovery helps improve the chances of meeting the target.
More in my BS article, Missing fiscal deficit target is in Budget DNA.
Several amendments and an 'escape clause' built into the FRBM Act in recent years has made it possible for successive governments to avoid meeting the target.
Is there an answer? I'm afraid not. We will keep muddling along until a global recovery helps improve the chances of meeting the target.
More in my BS article, Missing fiscal deficit target is in Budget DNA.
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