(LiveMint)
Finance Minister Nirmala Sitharaman is likely to stay conservative about the nominal gross domestic product (GDP) growth and set it at 9.5-10% in the FY21 Budget as the time for ‘picking optimistic target’ experiments are over, people familiar with the matter said. “This year, there will be a realistic assessment of the nominal GDP,” said a source.
Revenue estimates and fiscal deficit targets are also likely to be circumspect as not to face a situation of failing to meet them as the Finance Ministry is already fighting two perceptional issues — transparency in disclosing budget data, and not to set ambitious tax revenue and fiscal deficit targets.The Prime Minister’s Office (PMO), which is closely associated the budget — even at the micro level — has told North Block not to set over-ambitious tax and fiscal deficit targets.