 "Jaitley")
The Narendra Modi-led government is using the Finance Bill 2018 to insert provisions in the Fiscal Responsibility and Budget Management (FRBM) Act, in a move that will enable it to incur higher-than-mandated borrowing, and possibly spending, till the 2024 Lok Sabha election cycle.
Moreover, a fiscally ideal situation in which tax and non-tax revenues are used for administrative expenses and capital receipts, including market borrowings, are used for infrastructure expenditure, is likely to be upended as well. Such a situation could also provide for further amendments proposing that the Centre be no longer obliged to report revenue deficit numbers.
