Never Waste a Crisis

Jaitley Caught in Defence-Finance Crossfire
  • Finance ministers are judged unsympathetically on fiscal deficits. No finance minister wants to be remembered as the one on whose watch the government missed a target.
  • For Mr. Jaitley, who committed this sin by pausing on fiscal consolidation in his last Budget, it is time to seek redemption.
  • If the decision to disburse the 7th Pay Commission award will lead to a feel-good factor, disinvestment and subsidies rationalisation would control the fiscal deficit.