Subsidy reforms News

In order to reduce external vulnerabilities and improve investment prospects, the government should continue with its fiscal consolidation activities including passage of GST Bill, further subsidy reforms and easing domestic supply bottlenecks, says an IMF report.

The government on Wednesday said the macro-economic scenario has improved significantly on account of revival of growth and subdued inflation and exuded confidence that interest rates will decline in coming years.

Reiterating commitment to stick to the fiscal consolidation road map, the government on Tuesday said it will continue with subsidy reforms and bring down the fiscal deficit to 3.5 percent of the GDP by March 2017.