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The Fiscal Deficit Math That You Don’t See
We now have a situation where fiscal policy could be significantly more expansionary than we care to admit, warns Ananth Narayan.
07 Mar 2019, 11:52 AM IST
As per the revised estimates for the fiscal year 2018-19 released on Feb. 1, the Finance Ministry expects to marginally exceed its tax receipt budget of Rs 14.8 lakh crore with a healthy 19.1 percent year-on-year increase. However, the Controller General of Accounts data shows that tax receipts for 10 months of FY19 till January 2019 are at Rs 10.2 lakh crore, just 4.7 percent higher on a year-on-year basis.
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