The Union budget for 2023-24 is rather well placed on fiscal math4 min read . Updated: 02 Feb 2023, 02:35 AM IST
- Total public debt will at most reach 86.9% of GDP by 31 March after three high-spend years and onshoring of off-budget items
All credit goes to Finance Minister Nirmala Sitharaman and her team for extraordinary fiscal performance over three years of relentless pressure from the pandemic followed by the Ukraine war. During these three years, past off-budget borrowings were on-shored at the Centre, and two-thirds of the population saw their entitlement under the Food Security Act doubled in quantum, at zero incremental cost over 28 months in all. The doubling stands withdrawn as of January 2023, but the original quantum will be zero priced until December 2023.
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