Budgetary Policy and Economic Growth

Budgetary Policy and Economic Growth Errol D'Souza The share of capital expenditures in government expenditures has been slipping and the tax reforms have not yet improved the income elasticity of the tax system. In order to keep the economy on a high growth path direct measures to boost savings and public investment are required, both of which measures require a new thrust to economic policy management that is missing in the budget.