With Pranab Mukherjee's budget just a week away, all eyes are on the big budget numbers: fiscal deficit, subsidies, tax increases and concessions.
However, Dr Ashima Goyal of the Indira Gandhi Institute of Development Research in Mumbai told Firstpost's R Jagannathan that it is not the raw numbers that matter to fiscal consolidation, but the quality of the adjustment.
To deal with inflation, the government has to fix supply side issues in food and infrastructure, but this needs a supportive kind of fiscal consolidation.
According to Goyal, government spending has gone towards consumption, and this needs to shift towards investment.
Watch the whole Firstpost interview here.