12 FEB,2022 | MEDC
Budget 2022 has been framed against the backdrop of persistently high fiscal deficits over the past three years. This includes a combined (Centre plus states) deficit of over 13% of GDP in 2020-21; about 11% in 2021-22; and an estimated 10% in 2022-23. In this context we also need to consider the record government debt to GDP ratios – around 85-90% of GDP. Unless appropriately managed; their adverse consequences will soon become evident. The inflationary pressures generated by deficit financing tend to hurt the poor the most; make exports less competitive; and impede sustained economic growth. In such a scenario; the risk of crowding out the green shoots of private sector investment revival also cannot be ruled out. That is something we cannot afford to do.
*Photo Credit: Google
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Interactive Meeting with Mr. Jaykumar Rawal Hon'ble Minister for Tourism & Employment Guarantee Scheme Govt. of Maharashtra