Budget 2018: Many a slip between the announcements and the numbers3 min read . Updated: 02 Feb 2018, 06:52 AM IST
Taken together with the slippage in the fiscal deficit, Budget 2018 sounds a warning for monetary policy. Its effect is already seen in a jump in bond yields
Do all those schemes and programmes, announced with so much fanfare by the finance minister in Union Budget 2018, mean that government expenditure is going to shoot up next fiscal? Well, the total expenditure of the central government for 2018-19 is 13.04% of the projected gross domestic product (GDP). For the current fiscal, taking the revised estimates, total expenditure is 13.2% of GDP. So the key takeaway from the budget numbers is that government expenditure as a percentage of GDP is expected to shrink.
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