Tax collections are falling short of official estimates and demands on the budget are piling up. As usual, there are expectations of tax concessions, although what the economy may need are enlarged outlays on health, education and employment. The FM faces an unenviable task.
Tax collections are falling short of official estimates and demands on the budget are piling up. As usual, there are expectations of tax concessions, although what the economy may need are enlarged outlays on health, education and employment. The FM faces an unenviable task.
On the surface, India appears to have the ultimate Goldilocks economy: one of the highest GDP growth rates in the world with historically low inflation—exactly what any government would want. In theory, this should give the government tremendous flexibility and room in the upcoming budget. However, drill down a little deeper and gaps begin to appear that will result in some furrowed brows.