Union budget 2023–24 - The long view
- Economic and Political Weekly
- 58(12), 12-25 Mar, 2023: p.27-33
Consolidation is necessary, but so is stimulus. The budget ably attempts both through gradual deficit reduction and better expenditure composition. But success also needs coordination with monetary policy and with states. Further, inflation-lowering supply-side action will enable countercyclical smoothing; stronger institutions and incentives can improve state capex and public service delivery. – Reproduced