WHAT DO YOU MAKE OF THE BUDGET ESTIMATES FOR REVENUE COLLECTION/ SPENDING TARGETS? DO YOU FIND THIS BUDGET FISCALLY PRUDENT?
Targets seem achievable. Overall, the budget is fiscally prudent
There are uncertainties due to GST. Duties on petroleum should also come down. Even so, the budget is fiscally prudent
It all depends on whether the optimism in the revenues for 2017-18 works out. Otherwise, it has stuck to the path of prudence
The forecast for gross tax revenue growth (12.2 per cent) may be slightly optimistic, particularly if the introduction of GST brings with it the complications the Economic Survey warned about.
The experience of FY2016 and FY2017 has shown that disinvestment inflows of Rs 20,00030,000 crore are realistic, even in years when FIIs are not particularly enthusiastic about investing in Indian equity. The disinvestment and strategic divestment target of Rs 72,500 crore for FY2018, which is equivalent to 0.4 per cent of GDP, appears optimistic at this juncture. The ability to meet this target will be critical to achieve the government’s fiscal consolidation plan
The budget tried to achieve fiscal prudence, though it is not clear what the N.K. Singh Committee has recommended in terms of FRBM targets. However, there are some unrealistic targets on the revenue side, especially capital receipts (disinvestment), while on the expenditure side, there may be some underestimation of subsidies
The revenue estimates may be a bit unsure given that we have the GST coming up. Expenditures are okay but their efficient utilisation will be key. Last year, apparently 33 ministries could not utilise their budgeted allocations. This is not good
Yes, fiscally prudent... avoided distributing too many freebies
Yes, I think this is the main feature of the budget. Revenue targets are not inflated and revenue spending has been kept in control. The only estimate which to me is not credible is the target set for disinvestment. We must aim to achieve this, and the announcement of an agency to list public sector firms in a time-bound manner is positive, but I’d have liked to see more tangible announcements of quick privatisation in the budget, given how long this has been pending.
Budget numbers are quite credible except disinvestment and RBI dividend, which might have been overestimated. On the other hand, we might see an upside in tax revenues, which could have been underestimated in the budget