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Budget 2016: FinMin Veering In Favour Of Retaining Fisc Road Map; PM May Decide

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Budget 2016: FinMin Veering In Favour Of Retaining Fisc Road Map; PM May Decide

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  1. Budget 2016: FinMin Veering In Favour Of Retaining Fisc Road Map; PM May Decide With just over forty days left for Finance Minister Arun Jaitley to present the Union Budget 2016-17, budget makers are said to be veering towards sticking to the current medium- term fiscal consolidation roadmap and Read More set a fiscal deficit target for the next year at 3.5% of gross domestic product. However, in case there remain multiple views on the matter late into the budget preparations, Prime Minister Narendra Modi may take the final decision on whether to re-assess the roadmap or stick to the current one, Business Standard has learnt. The Modi government faces a substantial spending burden in fiscal year India Budget 2016-17, primarily due to implementation of recommendations of the Seventh Pay Commission, One Rank One Pension, maintaining capital spending levels as well as providing boost to revive a slowing rural economy.

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