Jaitley fails fiscal consolidation test: Ex-FM Chidambaram
Reacting to the 2018 Budget presented by Finance Minister Arun Jaitley, former Finance Minister P Chidambaram said that Jaitley has failed the fiscal consolidation test. He added that the fiscal deficit limit of 3.2% in 2017-18 had been breached and this failure would have "serious consequences". The government has projected the fiscal deficit at 3.3% of GDP for 2018-19. 