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Think out of the box on fiscal policies, says NITI aayog

NITI also suggests building fiscal reserves to be used on a rainy day

(From left to right) CII President designate Rakesh Bharti Mittal with Bajaj Group Chairman Rahul Bajaj, CII President Shobana Kamineni, CII Director-General Chandrajit Banerjee  and CII Vice-President Uday Kotak  at the CII Annual Session 2018 in Ne
(From left to right) CII President designate Rakesh Bharti Mittal with Bajaj Group Chairman Rahul Bajaj, CII President Shobana Kamineni, CII Director-General Chandrajit Banerjee and CII Vice-President Uday Kotak at the CII Annual Session 2018 in Ne

Orthodox fiscal and monetary policies, with their sole focus on reducing fiscal deficit by a specific percentage of gross domestic product (GDP) and maintaining inflation, were criticised by speakers at the annual general meeting of the Confederation of Indian Industry. Think "out of box" when framing these policies was the suggestion by the speakers to the government. While NITI Aayog vice chairman Rajiv Kumar limited its criticism to fiscal policies, economist and former chief economic advisor Deepak Nayyar opposed fiscal and monetary policies currently in practice in ...