The arithmetic of the 2021-22 Budget is based on the hope of a sharp bounceback in the government’s revenue on the heels of the forecast of 14.4% growth in nominal GDP. With the total expenditure remaining at about the same level, the fiscal deficit would be cut in both absolute and relative terms.
The relevant yardstick for the Budget estimate of 2021-22 is the revised estimate for the current financial year. The outbreak of the pandemic made the previous year’s Budget plans practically irrelevant.
The arithmetic rests on the revenue receipts being positively impacted by the ongoing opening up of the economy. With a nominal growth of 14.4% forecast, finance minister Nirmala Sitharaman anticipates the growth in tax receipts to be even larger.
Bu hikaye The Times of India Hyderabad dergisinin February 02, 2021 sayısından alınmıştır.
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Bu hikaye The Times of India Hyderabad dergisinin February 02, 2021 sayısından alınmıştır.
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