The NPA problem needs a political solution: Arvind Subramanian

Budget had sent strong signals to those evading taxes, says Arvind Subramanian

The Union Budget 2017-18 has burnished the government’s credibility on fiscal discipline and has ensured a level-playing field between large corporates and small enterprises, Chief Economic Advisor (CEA) Arvind Subramanian, said in an interview with Arup Roychoudhury. He defended the Economic Survey’s 2017-18 growth projections, adding the Budget had sent strong signals to those evading taxes. On the bad loan issue of banks, the CEA said the bottomline was that a status quo approach had not worked and would not work. Edited excerpts:
 
What are your views on the Budget?
 
There was a thematic coherence to the Budget.