New Delhi: Finance minister Arun Jaitley is likely to significantly increase public investment in infrastructure in Union Budget 2017, offering fiscal stimulus to boost economic growth at a time when private investment shows no signs of a pick-up. “Different schools of thought have argued either in favour of fiscal consolidation and stability or for a less aggressive consolidation and for boosting growth. ALSO READ | Union budget: Good economics, good politics, or bit of both? Srivastava, chief policy adviser at EY India, said the economy needs a “substantial fiscal stimulus” to revive growth, which had started slowing even before demonetization. “Government can revise upward its fiscal deficit target for next fiscal to 3.5% of GDP from 3% of GDP under the existing fiscal consolidation roadmap.

Source: Mint January 17, 2017 20:19 UTC