06 JAN,2020 | MEDC
India is currently in the midst of an unprecedented economic slowdown, and the forthcoming Budget could reveal the true state of government finances. The Budget will give a clear indication of the government’s approach to tackling slowing economic growth. The main options before policymakers are to increase expenditure on infrastructure projects or cut taxes or use a combination of both types of measures, keeping in mind the need for overall fiscal responsibility. Whatever be the case, both economic growth and employment generation need to be immediately prioritized. Some tough reforms (especially pertaining to land and labour laws) are also required to give economic growth the much needed sustainable momentum. There is now no time for complacency.
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