The writer is professor at the National Institute of Public Finance and Policy, New Delhi.
Comparison of growth rates during different political regimes was never a consideration for committee.
Sticking to the fiscal deficit target is riskier than relaxing it a little in order to prop-up growth.
Pay commission recommendations aren’t inflationary. But the fiscal deficit targets may prove unrealistic.
India is experiencing disinflation, not deflation. It is time to replace the wholesale price index with a producer price index to avoid further confusion.