Pranab Mukherjee can partly reboot the investment cycle and rebuilding business confidence by orchestrating a move towards fiscal rectitude — so that private investment is not crowded out by government overborrowing.
But, how can he raise revenues without additional taxation? And if he must tax, where must he go looking for additional revenue?
From corporates, who are anyway reluctant to invest, or hitherto untaxed or undertaxed sectors like agriculture and services?
A Firstpost panel of economists examines the finance minister’s options.