India’s revenue surge to fund welfare, not fiscal gap: sources
The Hindu
Govt. to spend more on rural job guarantee, incentives programme for exporters
India will utilise a big bump in revenue collection to fund welfare programmes instead of trying to beat its fiscal deficit target or lower borrowing, two government officials told Reuters.
The country is set to exceed its revenue collection target of ₹15.45 lakh crore, the first beat in four years, but a big chunk of the extra cash will go to a rural job programme and to provide free cereals to the poor.
The Centre is also likely to lose ₹550 billion to ₹600 billion in revenue after cutting fuel taxes this week.
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