Finance Minister Arun Jaitley has the tough task of balancing the need to boost spending and maintaining fiscal discipline when he presents the annual budget on Feb. 28. Former Infosys CFO V. Balakrishnan says the government’s main priority should be to revive the economy by loosening up its purse strings and the country could live with a “slightly higher fiscal deficit.”
The countdown has begun for the biggest business and economic event of the year – the release of India’s annual budget on February 28. Finance Minister Arun Jaitley is under pressure to unveil reforms that will put the country’s economy on a path of 7-8 percent growth over the next two years.
Comments by retired Supreme Court judge Markandey Katju had India’s parliament in uproar this week. In a blog post published by the Times of India, the chairman of the Press Council of India hinted at a connection between the government and the judiciary in the elevation of an allegedly corrupt judge in Tamil Nadu.