Time to be brave, stretch fiscal deficit goals if need be: Kamath
The Hindu
‘Benign rates, liquidity crucial to seize growth opportunity’
Veteran banker K. V. Kamath on Friday said it is ‘time to be brave’ for the government, and it should stretch the fiscal deficit target set in the Budget, if need be, to push growth. He said benign interest rates of less than 8% and abundant liquidity were also necessary to seize what he called as a 25-year growth runway opportunity awaiting the country. The government has targeted to get the fiscal deficit at 6.8% for FY22 in the Budget presented early this year. However, ravages of the second wave of the COVID-19 pandemic have resulted in calls for more spending by the government even as the revenue collections decline.
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