Montek Singh Ahluwalia Urges Govt. For Clear Fiscal Deficit Roadmap

Montek Singh Ahluwalia, former Deputy Chairman of the Planning Commission, has raised concerns about India's high fiscal deficit, stating that it is much more than other developing countries and hampering private investments.

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Ahluwalia emphasized the urgent need for the government to make a clear roadmap for reducing the fiscal deficit of both central and state governments to enable the economy to achieve its growth ambitions.

He flagged off the need for a clear roadmap to reduce the fiscal deficit. Referring to the government's fiscal targets, he said, "The finance minister has indicated a target of 4.5 percent for the coming year, but reducing the debt-to-GDP ratio substantially, as initially planned, would require even greater cuts. I'm unsure what the government's plan is on that front."

He said, "India's fiscal deficit is significantly higher than other developing nations, which squeezes resources away from private investment."