The tension between a fiscal stimulus and fiscal prudence will be a tight rope walk in the coming months. Promises of welfare programmes in the Congress’s manifesto clearly entail an increase in expenditure. Talk of a stimulus to prevent the global recession from hurting India might provide the background for a further stimulus. The most difficult question facing the finance minister is going to be: how far should he go in increasing expenditure in the coming budget?
The writer is a senior fellow at the National Institute of Public
Finance and Policy, Delhi express@expressindia.com
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