Having earned plaudits for the fiscal scorecard, the top decision-makers in the government are determined to do an encore with the capex numbers. The Union Budget to be tabled in Parliament on 23 July will see a far higher spend projected for capital expenditure than the Rs 11.1 trillion projected in the interim Budget on February 1.
India’s fiscal math was something like a good behaviour certificate. A good scorecard meant little except the political headache of not meeting expectations of higher subsidies in the short-term period, usually three years or more. As elections approached, the certificate lost
First Published: Jul 09 2024 | 6:32 PM IST
