Article Type

Article

Description

The contours of the upcoming budget in terms of size, outlays, revenue collection targets, fiscal deficit etc. have been spelled out by the finance minister at various fora and by the IMF in its reports. So, it is not very interesting to speculate on whether the tax targets are ambitious, expenditures understated and subsidies underplayed.

The purpose here is to suggest that budgetary estimates and projections should be formulated in the context of a medium-term policy framework. The objectives of such a framework should be: to accelerate the rate of economic growth and job creation; to keep inflationary expectations under control; to target subsidies for the poor; to incentivise production sectors; to minimise external account imbalances.

Publication Source

Dawn

Publication Date

5-31-2014

Pages

1-2

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