Treading along the 'dangerous' path

For FY18, total revised estimates for expenditure are pegged at Rs 21.57 lakh crore (net of GST compensation transfers to the States) as against the Budget Estimates of Rs 21.47 lakh crore, breaching the fiscal deficit target by 30 basis points (bps). The new target for the fiscal deficit is stipulated at 3.5%, as against Budget estimate of 3.2%. Moreover, for FY19, there is a mere consolidation of 20 bps.
When Finance Minister Arun Jaitley arrived at the Parliament on February 1, his task was cut out -- to present a balanced budget. After the initial euphoria o...