New Delhi, Feb 28 (IANS) In order to curb huge deficits, Finance Minister Pranab Mukherjee Monday said there was a need to define the nature of public expenditure.
‘The exact definition of planned and non-planned expenditure needs to be revisited,’ Mukherjee said while presenting the budget for 2011-12.
He stressed the need for effective management of public expenditure for bringing it in line with the objectives of the fiscal consolidation process.
According to him, a committee under C. Rangarajan, chairman of the prime minister’s economic advisory council, had been set up to look into the issue.
–Indo-Asin News Service
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