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Need judicious mix of revenue & expenditure: FM

The current acceptable level for fiscal gap is 3% of GDP. Revenue foregone is not considered in calculation of fiscal deficit, Jaitley said

July 08, 2014 11:36 IST | India Infoline News Service
Finance minister Arun Jaitley today said that fiscal gap has to be maintained at the acceptable level.
The current acceptable level for fiscal gap is 3% of GDP. Revenue foregone is not considered in calculation of fiscal deficit, Jaitley said.
According to the minister, states are doing a better job than the Centre in controlling fiscal gap. We still need to continue some tax breaks.
A judicious mix of revenue and expenditure is required, Jaitley further said.

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