The Survey endeavours to provide the intellectual anchor for the government to be more relaxed about debt and fiscal spending during a growth slowdown or an economic crisis.
Budget 2021 | Representative image: Moneycontrol.com
The Economic Survey 2021, released on January 29, called for a “more active, counter-cyclical fiscal policy”.
“While acknowledging the counterargument from critics that governments may have a natural proclivity to spend, the Survey endeavours to provide the intellectual anchor for the government to be more relaxed about debt and fiscal spending during a growth slowdown or an economic crisis,” the survey said.
“Thus, the Survey’s call for a more active, counter-cyclical fiscal policy is not a call for fiscal irresponsibility,” the survey added
(This is a developing story. Please check back for updates.)
