Fiscal activism

Govt should tread carefully on this path

The Economic Survey, tabled in Parliament on Friday last week, expects the economy to rebound in the next fiscal year with a real growth rate of 11 per cent, after contracting by 7.7 per cent in the current year. In nominal terms, the economy is projected to expand by 15.4 per cent. Union Finance Minister Nirmala Sitharaman is likely to use these numbers in the Union Budget, to be presented on Monday. The projections in the Survey are largely in line with other forecasts. The International Monetary Fund, for instance, expects India to grow by 11.5 per cent in the