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Even minor fiscal slippage by Centre now invited criticism: Arun Jaitley

Jaitley takes on UPA for widening fiscal deficit

Indivjal Dhasmana  |  New Delhi 

The Modi government has brought down the 4.6% fiscal deficit inherited from the UPA government. Even minor fiscal slippage draws flak now: Arun Jaitley, Finance minister
The Modi government has brought down the 4.6% fiscal deficit inherited from the UPA government. Even minor fiscal slippage draws flak now: Arun Jaitley, Finance minister

Amid a debate over whether the government will miss the consolidation road map in the current and next financial years, Finance Minister on Thursday said even minor slippage by the Centre now invited criticism. He took on the previous (UPA) regime for letting the deficit widen by a large margin. 

“India under the had started losing credibility with large slippages, while the (Narendra) has brought down the 4.6 per cent deficit inherited from the government. Even a minor slippage draws flak now," he said while replying to a debate on the state of the in the Rajya Sabha.

He said market had rewarded the prudence of the government. The finance minister said there had been some impact on the due to structural reforms such as the goods and services tax (GST) and demonetisation, but all macro parameters were showing an uptick in growth. 
He said the government undertook structural reforms even as there was global weakness and back to back droughts. 

It was the previous regimes which started structural reforms such as Aadhaar and the direct benefits transfer, but the took them to a logical conclusion. 

The had announced the on GST, but the regime had set it up. “Now you (the Congress) talk in different languages on the GST in and outside Parliament. Outside Parliament, you talk of reducing rates, but in Parliament you talk of revenues,” he said. 

First Published: Fri, January 05 2018. 01:15 IST
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