The current fiscal deficit is a concern for policymakers. Recent data suggests that the government’s efforts to reduce borrowing are showing promise. For instance, the reduction in non-essential spending has been significant, with a 10% decrease over the past year.
However, more needs to be done to address the issue of subsidies and incentives, which continue to put pressure on the budget. Experts argue that a more targeted approach to subsidies could help reduce the fiscal burden. With the next budget cycle approaching, it will be interesting to see how the government chooses to address these challenges.
As of now, the progress is slow but steady.