Fiscal deficit

The new fiscal arithmetic

Print edition : March 01, 2019

Cable operators protest against GST in Hyderabad in December 2018. The "game-changer" tax has seen receipts falling short of Budget Estimates by Rs. 1,00,000 crore. Photo: G. Ramakrishna

Over the years, the Narendra Modi government has not only window dressed its Budgets but also relied on extra-budgetary resources and off-budget expenditures to “rein in” fiscal deficit.
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