A predictable but unrealistic budget
The low allocation for agriculture, rural sector and social sectors, though predictable, is disappointing
The expenditure proposals of the budget were predictable, and its revenue projections quite unrealistic. The one item that was not predictable, but on which there was much debate, was whether the fiscal deficit target of 3.5% of gross domestic product (GDP) for 2016-17 would be breached. Finance minister Arun Jaitley has maintained the target, but also announced a review of the Fiscal Responsibility and Budget Management (FRBM) Act, a clever balancing act between fiscal hawks and demand revival enthusiasts.
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