Divestment to make up for tax-revenue shortfall this year: CEA Subramanian

Non-tax revenues have the potential to expand and make up for the revenue shortfall, said CEA Krishnamurthy Subramanian

Just a day before the Union Budget 2019-20, Chief Economic Advisor Krishnamurthy Subramanian said asset monetisation and disinvestment were expected to make up for the expected shortfall in revenue. Subramanian, after presenting the Economic Survey 2018-19, told Arup Roychoudhury and Somesh Jha the topics not covered in the Survey, like banking sector reforms, would find place in the next Economic Survey seven months from now. Excerpts:

The Survey states the fiscal consolidation road map needs to be adhered to. But we also have a massive shortfall in direct and indirect taxes.

Money has no colour. What I am saying is that non-tax