Revive disinvestment

It will be useful in sustaining capital expenditure

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One of the striking features of the Union Budget over the past few years has been astute fiscal management.

The fiscal deficit during the pandemic year (2020-21) increased to 9.2 per cent of gross domestic product (GDP), owing to pandemic-induced disruption in economic activity. However, the government has steadily reduced the fiscal deficit since then and is on the path to achieve the target of reducing it to below 4.5 per cent of GDP this financial year, as announced in the 2021-22 Budget. Besides, what is encouraging is that this reduction has been achieved with increased transparency and improved quality of expenditure.