"With the proactive measures taken by the government and the Reserve Bank of India (RBI), industry believes that the slowdown will be overcome, and a gradual recovery will soon be in place. "On balance, all these factors will have a significant bearing on growth in the next fiscal. "Just like our medium-term inflation target range, we can have a flexible fiscal policy target which will set a central target for the fiscal deficit with a range of around 0.5 to 0.75 per cent. The additional availability of funds may be spent on key infrastructure projects which can be implemented quickly. The principle of higher customs duty on final products with lower duty on intermediate goods and the lowest on raw materials needs to be followed, without exception, said CII.

Source: Economic Times December 29, 2019 09:56 UTC