Finance Minister Nirmala Sitharaman prepared the Union Budget for 2020-21 while labouring under multiple constraints. The economy has slowed sharply.
Tax revenue is lower than expected by perhaps 0.7 per cent of gross domestic product or GDP — though what proportion of this is due to the economic slowdown and what to problems with goods and services tax (GST) cannot easily be determined. Political constraints continue to operate on the Budget process, given that this government is in perpetual election fighting mode, and the prime minister’s office is known to be exceptionally ...
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First Published: Sun, February 02 2020. 21:03 IST
