Introduce another slab to tax the super-rich, says C Rangarajan

In a Q&A with ex-governor of RBI and Former chairman of Prime Minister's Economic Advisory Council C Rangarajan says that the Budget 2022-23 has erred on revenue projections on the lower side

Former chairman of the Prime Minister’s Economic Advisory Council and ex-governor of the Reserve Bank of India C Rangarajan tells Indivjal Dhasmana that the Budget 2022-23 has erred on revenue projections on the lower side. He says nominal economic growth would be close to 13 per cent instead of 11.1 per cent assumed in the Budget even as real GDP growth may be 7-7.5 per cent instead of 8-8.5 per cent projected in the Economic Survey. Edited excerpts:

The Budget is relying on capital expenditure (capex)-led economic growth. How do you view this strategy?

The emphasis on increasing capex is a directional