Hopes on GST to bring down India's fiscal deficit
In a report dated July 18, 2016, Sanjeev Prasad, Suvodeep Rakshit and Sunita Baldawa of Kotak Institutional Equities Research said, "India’s high consolidated fiscal deficit remains the single-biggest issue with the economy. While there has been some improvement from the 8-9% levels in FY2009-10 (the years following the global financial crisis), GFD has stubbornly stayed around 7%."
India's gross fiscal deficit (GFD) is unlikely to decline for the next few years. Photo: Reuters