New Delhi: With the government all set to contain the fiscal deficit, the first Budget of the “Modi Sarkar” might not be a populist one. Some indications to this effect came after finance minister Arun Jaitley wrote in his blog earlier this week that India must move towards an era of fiscal discipline.
“We must commit ourselves to this discipline in order to strengthen the Indian economy, which can improve the quality of life of every Indian and pull out deprived ones from the state of poverty. Short-term (fiscal) disciplining till we reverse the present trend will give us long-term benefits,” Mr Jaitley wrote.
As part of the ongoing pre-Budget consultations, Mr Jaitley met trade unions and industry representatives. He will meet the state finance ministers next week.
Government sources hinted that while there may be some tax breaks for sectors in “dire need of support”, the tone of the Budget is unlikely to be populist.