How credible is path of improving quality of fiscal deficit going forward?

Centre's fiscal deficit is projected to come down to 5.9% of GDP next financial year from 6.4% in the current financial year

The Union Budget has not only tried to improve upon fiscal consolidation in the next financial year but also projected to improve upon the quality of that move.

While the Centre's fiscal deficit is projected to come down to 5.9 per cent of the gross domestic product (GDP) next financial year from 6.4 per cent in the current financial year, its revenue deficit is expected to fall to 2.9 per cent of GDP from 4.2 per cent over this period.

As such, the revenue deficit is projected to fall by 1.3 percentage points of GDP, while the fiscal deficit would