New Delhi: Niti Aayog has suggested that the government should not rush to lower fiscal deficit during the next financial year as stepping up capital expenditure will help boost demand for critical raw materials and inputs such as steel and cement, in addition to creating jobs and strengthen the economic recovery.
The inputs ahead of the Budget, expected to be presented on February 1, come as the finance ministry is pushing government departments to step up spending, sources told TOI. While the Centre has budgeted for a fiscal deficit of 6.8% of GDP for the current financial year, the plan is to gradually lower it to 4.5% of GDP by 2025-26 as part of overall fiscal consolidation effort.
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