Budget 2018: Arun Jaitley fails fiscal consolidation test, says Chidambaram

Congress leader P Chidambaram on Thursday said Finance Minister Arun Jaitley had failed the fiscal consolidation test in Budget 2018-19 and this would have serious consequences.

The former finance minister said that the fiscal deficit limit of 3.2 per cent in 2017-18 had been breached and was estimated at 3.5 per cent.

"The finance minister fails the fiscal consolidation test and this failure will have serious consequences," Chidambaram told PTI soon after the present finance minister Arun Jaitley completed his budget speech.