The Modi government’s first year in office during its first stint adhered to fiscal consolidation path as also the demonetisation year of 2016-17. All other years showed higher fiscal deficit, particularly from what was given in the papers given under the Fiscal Responsibility and Budge achieved and hence it was not even projected for 2019-20.
“Although the FRBM Act has been there since 2004, on average, the fiscal deficit during UPA-2 was 5.5% of GDP. There are difficulties in maintaining that discipline and sometimes it is not possible… And today, I am facing the challenges and addressing them, but people who ran it well above 5%, should know what is fiscal management”, the minister said.
Source: Business Standard
How well did the Modi govt manage its fiscal deficit in the last 6 years?
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