| Font Size |
"I can't indulge in reckless borrowing...," he said after presenting the interim budget for FY'10 in Parliament.
The government has pegged fiscal deficit at 5.5 per cent of Gross Domestic Product for the next financial year, against the revised figure of 6 per cent in the current financial year.
The fiscal deficit target for the current fiscal was 2.5 per cent.
However, fiscal measures initiated in the wake of the global economic downturn and reduction in revenue collection have impacted resource mobilisation resulting in widening ofdeficit.
Analysts too fear that returning to an era of high fiscal deficit could push the country into the vicious cycle of high inflation.
Discuss this story on expressindia forums
|
|
DID MUKHERJEE HAVE THE MANDATE TO MAKE HUGE ALLOCATIONS TO FLAGSHIP PROGRAMMES OF UPA WHICH IS TOTALLY POLITICALLY MOTIVATED? GOD SAVE OUR COUNTRY.