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Jaitley should contain fiscal deficit in Budget 2018: Noted economist

The government is aiming to contain fiscal deficit for the current fiscal at 3.2 per cent of GDP

Press Trust of India  |  New Delhi 

Arun Jaitley, GST council

Finance Minister Arun Jaitley should try to achieve the fiscal deficit target and take more steps to implement projects efficiently in the forthcoming Budget, noted US-based economist T N Srinivasan has suggested.

Srinivasan, the Samuel C Park Jr Professor Emeritus of Economics at Yale University, further said there is no economic theory to link job losses to demonetisation and implementation of the Goods and Services Tax (GST).

"I expect him to contain the fiscal deficit as far as he can, take further steps to implement projects efficiently and on time," he told PTI.

The government is aiming to contain fiscal deficit for the current fiscal at 3.2 per cent of GDP.

Jaitley is scheduled to present the Union for 2018-19 on February 1.

Asked to comment on concerns in India about job losses due to demonetisation and GST rollout, Srinivasan, who at one point taught RBI Governor Urjit Patel, said, "There is no economic theory linking the two.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Mon, January 22 2018. 00:58 IST
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