Shumita Sharma Deveshwar

Director of India Research
+44 203 006 3102

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Recent India research

* India: Fiscal policy puts Modi at odds with RBI, Shumita Sharma Deveshwar, 12 Oct 2017
* India: Gujarat poll to test identity vs economics, Amitabh Dubey, 5 Oct 2017
* India In Charts: A disappointingly slow recovery ahead, Shumita Sharma Deveshwar, 21 Sep 2017
* India: RBI firm on inflation, despite growth risk, Shumita Sharma Deveshwar, 14 Sep 2017
* India: Modi risks losing control of jobs narrative, Amitabh Dubey, 8 Sep 2017

See all our India research >>

Successful fiscal escapism

Overview

The Indian government’s pre-election giveaway budget has laid bare the realities and risks of current fiscal policy. The reality is of a fiscal stance much looser than officially stated. Yet the resultant risks are negligible. This is due to impressive tax revenue performance – stemming mainly of course from strong economic growth, but also underpinned by some useful tax reform and hedged by reasonable assumptions about future revenue growth.

Once the national elections are out...

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