Fiscal consolidation without squeezing expenditure is desirable: Jaitley

Says NPA legacy left over by UPA and demonetisation along with GST to result in less cash economy

Finance Minister Arun Jaitley on Thursday said the Budget stayed on the path of fiscal prudence without squeezing expenditure on the productive sectors in contrast with the United Progressive Alliance (UPA) government, which had cut expenditure in 2012-13 and 2013-14. 

Replying to a debate on the general Budget in the Lok Sabha, he tried to turn the tables on the Congress for rising non-performing assets (NPAs) of public sector banks. He blamed the then finance ministry for influencing banks to give loans to liquor baron Vijay Mallya, without taking the name of the businessman. 

The finance minister defended