Here is some conventional macroeconomic rhetoric, extracted from an article in the Livemint of Friday, Nov.7, 2014.  MMTers can obviously see through the anxiety that is being raised here.


... “Given the sluggish growth of tax revenues in (the) first half of 2014/15, meeting the disinvestment target would be crucial to ensure that the fiscal deficit remains in line with the budgeted level,” said Aditi Nayar, an economist at ICRA, the Indian arm of rating agency Moody’s.

... Officials worry that a shortfall in proceeds from share sales and lower tax collections due to the weak economic recovery could force them to cut budgeted spending again.

... “The situation is not as bad as last year, but we may need expenditure cuts, maybe of Rs20,000-25,000 crore,” said the first source, adding there could be savings in capital spending as some ministries were unable to spend allocated funds.

Read more at: http://www.livemint.com/Politics/fUvEGpLThR9rVAtYvpDinN/Govt-may-fall-short-of-its-95-billion-privatisation-target.html?utm_source=copy