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Budget 2018 to aid growth, but with higher inflation, weaker fiscal balance

The inescapable inference is that govt now finds it extremely difficult to get the deficit down to 3%

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Budget 2018

Shankar Acharya 

Shankar Acharya

With eight state elections in 2018 and the national election to follow by spring 2019, Finance Minister Arun Jaitley’s fifth Budget had to balance economic priorities against political imperatives. As a result (as Amartya Sen once commented on a paper decades ago), it has some good points and some not-so-good points.

Given limited space and my inborn worrying tendencies, here I will focus mostly on the latter category. In doing so, I will deploy my standard four-part framework for Budget assessment: Overall fiscal stance, tax policies, expenditure policies, and reform ...

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First Published: Thu, February 08 2018. 05:58 IST
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