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Borrowing is still a taboo word. Budget needs to rethink

With the economy calling for attention, a sharp increase in the fiscal deficit is exactly what is needed

May 11, 2020 / 06:30 PM IST
Borrowing is still a taboo word. Budget needs to rethink

Another Union Budget is near and air is rife with speculation as to what is expected. Against the backdrop of a weak economy, the government has its work cut out. The first task would be to accept that this is not a run-of-the-mill slowdown and cannot be remedied by ordinary methods. The GDP is expected to grow at 5 per cent in FY20, and for the calendar year 2019, it is possible that India’s growth rate will be the lowest...

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