Fiscal transparency

Concerns raised by the CAG must be addressed

The latest report of the Comptroller and Auditor General (CAG) on the accounts of the Union government has raised several concerns. The way the government manages its finances will only increase complications in the current year and beyond. The pandemic has radically changed the Budget reality as revenue collection will fall short significantly and expenditure is likely to overshoot the target. As a result, the fiscal deficit for the year will be much higher than the Budget estimate. Fiscal expansion and a significant increase in public debt mean that government finances will remain under pressure for several years. Thus, to