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Govt to stick to fiscal road map: jaitley

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Govt to stick to fiscal road map: jaitley
A day after dithering on the fiscal glide path, Finance Minister Arun Jaitley, upbeat on the Moody´s upgrade, said the government would maintain fiscal discipline and adhere to the road map suggested by a government constituted panel.“We intend to maintain the fiscal glide path.
We believe that the upgrade is a be lated recognition of all the positive steps that have been taken in the past few years that contributed to the strengthening of the Indian economy,” Jaitley told a press conference after Moody´s upgraded India´s ratings, giving credit to the Narendra Modi government´s reform initiatives.
He added that the government´s track record had been one of the better records in India´s history as far as fiscal discipline was concerned.“And we intend to move on that track,” said Jaitley.
However, at a Morgan Stanley event in Singapore on Thursday, he had said, “No pause, but challenges arising from structural reforms (which) could change the (fiscal) glide path.” The Centre´s fiscal deficit target for 201718 is 3.2 per cent of GDP.
According to the recommendations of the Fiscal Responsibility and Budget Management panel, the Centre should aim for a fiscal deficit of 2.5 per cent by FY23.For FY 19, it has suggested a target of 3 per cent. The recommendations are yet to be accepted by the government.
The Business Standard, New Delhi, 18th November 2017

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