Two-pronged strategy for fiscal consolidation: Up the revenue and bring down Govt. Fiscal consolidation must be achieved through a two-pronged strategy of increasing revenue and reducing government expenditure. Two-pronged strategyThe reduction in the fiscal deficit or fiscal consolidation must be achieved by both a reduction in government expenditure and an increase in revenue. Summary and conclusionThe reduction of the fiscal deficit, or fiscal consolidation, is imperative for economic stability and growth. The government should adopt a more equitable and pragmatic tax strategy to increase revenue and reduce the fiscal deficit.

Source: Sunday Times January 28, 2024 03:23 UTC