Complex fiscal management

21 NOV,2022 | MEDC


Government programmes in India are not limited to supporting the poor or a particular section of society. For example, the government now supports and subsidizes the manufacturing sector through its ambitious PLI scheme. The faster adoption of EVs and cushioning the impact of higher crude prices through the development of a host of renewable energy systems is also being attempted. Such endeavours could complicate fiscal management over time and emerge as a risk not just to growth but also to financial stability. Thus, the prioritization of expenditure is crucial. Physical infrastructure development, in particular, needs to be aggressively worked on. At both the state and central levels, results will be more visible only when public expenditure is directed to growth-enhancing activities. With the ongoing Ukraine crisis and the resulting global headwinds, domestic fiscal management has become increasingly complex.

*Picture Credit: Google 

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