Moots higher fiscal deficit in 2021-22
The government must expedite the roll-out of infrastructure projects for bidding out to developers, even as it scales up capital spending allocations to pump-prime the economy, the Confederation of Indian Industry (CII) suggested to Finance Minister Nirmala Sitharaman on Monday.
“Consider bringing the projects, which are supposed to be auctioned in the next few years, to the coming year, as there are not many infrastructure projects in the pipeline ready for bidding,” the industry body pointed out, even as it made a pitch for targeting a higher fiscal deficit in 2021-22 and allocating 1% of GDP for public spending on infrastructure.
CII’s recommendations were shared at a consultation held by the Minister with experts in the infrastructure and energy sectors, ahead of the Union Budget 2021-22.
Source: Read Full Article