New Delhi, July 2 (ANI): India’s Finance Minister, Arun Jaitley has said high fiscal deficit and inflation were major challenges for the country. Jaitley was addressing a gathering during an event at Institute of Chartered Accountants of India. He said populist policies and paralysis in policymaking had slowed growth, and that an improving current account deficit position in the last few months was the only “silver lining” for the Indian economy.
The fiscal deficit in the first two months of this fiscal has already touched a whopping Rs 2.4 lakh crore constituting as much as 45.6 per cent of the estimate provided by his predecessor P. Chidambaram for the entire 12- month period.
Jaitley has to walk the tightrope between limiting the fiscal deficit and at the same time ensuring that sufficient funds are allocated for social welfare schemes and big- ticket infrastructure projects in the highways and ports and power sectors.
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