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“Therefore, the fiscal room for stepping up expenditure has to either come from higher revenue collection or higher fiscal deficit. With growth expected to fall not only in FY17 but also in FY18, the government is clearly staring at lower tax collection,” said India Ratings.
The headroom for the government to provide a stimulus either from the consumption side or investment side is quite limited and if a boost is to be provided then perhaps it will require compromising the fiscal deficit target and the fiscal consolidation process, it added.
India Ratings believes, the implications of the integration of the railway budget into the general budget will show an increase in capital expenditure.
From Agencies, Featured image courtesy itsgoa
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