Centre unlikely to cut spending in FY17: Reports
The Centre is unlikely to cut public expenditure in 2016-17 despite a shortfall from spectrum auctions, reports claimed. However, the fiscal deficit target of 3.5% of the GDP for the current fiscal will be met. Earlier, Finance Minister Arun Jaitley had said that the tax collected from the Income Disclosure Scheme will help cushion the shortfall from the spectrum sale.