‘Efforts to rein in fiscal deficit rapidly can impact economic recovery’
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HDFC Bank chief economist Abheek Barua on Friday cautioned that any efforts by the Central and State governments to rein in fiscal deficit rapidly could lead to a massive compression in expenditure there by impacting economic recovery.
Delivering the first OmPrakash Tibrewala Memorial Endowment Lecture on ‘Rebounding Indian economy: way forward’, Mr. Barua called on the industry to use its influence and urge the governments to abjure their obsession with cutting the fiscal deficit sharply. The virtual lecture was organised by the Federation of Telangana Chambers of Commerce and Industry (FTCCI).