Narendra Modi's Washington test

Narendra Modi's Washington test

If Modi gets the world’s biggest power right, his pursuit of larger global goals...
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GST implementation will help narrow fiscal deficit: CRISIL

Jun 23 2014, 19:25 IST
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Implementation of goods and services (GST) tax could help government raise tax revenues and reduce fiscal deficit... (Photo: AP) Implementation of goods and services (GST) tax could help government raise tax revenues and reduce fiscal deficit... (Photo: AP)
SummaryImplementation of goods and services (GST) tax could help government raise tax revenues and reduce fiscal deficit...

peaked at 60 per cent of the GDP.

The declining trend of the Centre's debt ratio after fiscal 2009 has been driven more by high inflation rather than lower fiscal deficit or faster GDP growth.

"With inflation expected to moderate and upside to growth limited, a strong commitment to fiscal consolidation is an imperative to lower the country's debt-to-GDP ratio," the report said.

With a partial GST implementation, CRISIL forecasts debt-to-GDP ratio (internal liabilities as a per cent of GDP) to decline to 45 per cent by FY17.

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