India will struggle to rein in fiscal deficit
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Significance The fiscal deficit is projected to be 9.5% of GDP in 2020/21 -- compared with a budgeted 3.5% -- narrowing to 6.8% in 2021/22 and 4.5% by 2025/26. The government is counting on increased tax revenue and receipts from divestment to help it stick to this fiscal ‘glide path’. Impacts Increased spending on health and well-being should at least create more jobs in the public health system. Delhi will count on a return to high levels of GDP growth to help reduce the government debt-to-GDP ratio. The government may find it difficult to realise its goal of pushing through privatisation of Air India within the first half of 2021/22.
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2021 ◽
pp. 251660262110173
2019 ◽
Vol 13
(1)
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pp. 88-102
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2016 ◽
Vol 10
(4)
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pp. 770-786
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2017 ◽
Vol 9
(4)
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pp. 451-466
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