Beneath the fiscal facelift4 min read . Updated: 08 Mar 2016, 07:37 PM IST
The halo around the budget starts to fade when one takes the credibility of the fiscal math into consideration
As the post-budget din dissipates, it is instructive to reflect upon some details that have been ignored, received only a passing reference or, if noticed, have typically been pushed to the side. Some of these details hint that there will be only marginal room for the Reserve Bank of India to ease monetary policy. This is despite the government sticking to its fiscal deficit forecast of 3.5% of gross domestic product (GDP) for FY17 and its market borrowing being slightly better than expectations.
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