The relationship between budget deficits and inflation is not automatic. It depends largely on how the deficit is financed, the state of aggregate demand, the output gap, and the quality of public expenditure.

Under the proposed law, no authority will be allowed to raise questions or initiate proceedings regarding such income if the taxpayer voluntarily discloses the amount and pays the required tax, notwithstanding any provisions in the Income Tax Act or other laws in force

Says CPD, urging govt to use next budget to strengthen power and fuel stability for ensuring macroeconomic growth