Fiscal taper: Ease private investment while cutting public ones

With 76% of the year’s fiscal deficit limit already reached in the first half of the year, the finance minister has no option but to introduce savage cuts in various types of expenditure including, most likely, in some of the UPA flagship schemes such as the MGNREGA—this is what prompted rural development minister Jairam Ramesh to describe the planned cuts as savage in a letter to the Prime Minister. 

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