Ahead Of Budget, Chief Adviser Says Keep Finances Tight To Keep Loan Rates Low
NDTV
Economic Survey by team led by Chief Economic Adviser Nageswaran says fiscal discipline will ensure significant space for policy action in uncertain times
Amid expectations of tax relief for middle class in the Budget, Economic Survey on Tuesday suggested that the government should follow the path of fiscal prudence as it will benefit all sections of society by keeping interest rates low.
The Survey, authored by a team led by Chief Economic Advisor V Anantha Nageswaran, argued that fiscal discipline will ensure significant fiscal space for policy action in uncertain times.
"As India's economic recovery advances, amidst the continuing global uncertainties and risks, the fiscal glide path illuminates the path for fiscal policy. That will ensure more significant fiscal space for policy action in uncertain times.
"Further, in reality, fiscal discipline translates into a fiscal stimulus for all sections of the economy through lower interest rates," the Economic Survey 2022-23 said.
