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Pay Panel Hike Won't Impact Fiscal Deficit Much: CARE Ratings

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  • Published On: June 29, 2016
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Madan Sabnavis, chief economist at CARE Ratings, said some of the Rs 1 lakh crore of additional expenditure will come back to the government in the form of higher direct and indirect taxes. With commodity prices remaining low, the pay hike won't have much impact on government deficits, he added.
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