Belt tightening: Jaitley sticks to fiscal prudence

01-Mar-2016
Belt tightening: Jaitley sticks to fiscal prudence

Finance Minister Arun Jaitley chose the path of fiscal prudence by refraining from deferring the fiscal consolidation exercise by one more year even as the tax-GDP ratio is projected to stay unchanged at 10.8 in the current and next financial years.

At the same time, Jaitley also announced a committee to review the Fiscal Responsibility and Budget Management (FRBM) Act to assess whether the targets could be adjusted to the needs of the economy.

Source: Business-standard.com

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