Not fresh fiscal stimulus, More important is to spend committed amount: Ex RBI Guv

TIL Desk/Business/New Delhi/ Former Reserve Bank Governor Bimal Jalan on Sunday opined against a fresh fiscal stimulus to boost pandemic-hit economy saying it is more important to spend the amount already committed by the government than to increase the deficit.

“I think the fiscal stimulus is already there What you need is to spend the total amount of expenditure that you have already announced and implement what has been announced so far. That is much more important than increasing the fiscal deficit target again, Jalan told in an interview.

In May, the Centre had announced a Rs 20 lakh crore ‘Aatmanirbhar Bharat’ stimulus to help the nation tide over the economic crisis induced by coronavirus. “… if you have finished the total amounts of resources that you have already announced, then you should increase the fiscal deficit,” he added.