Broking firm Edelweiss says there is a strong case for the government to step up public spending in the Budget as demand is weak, inflation and current account deficit risks are low. "The government may be on a weak footing on tax revenue, but is rich in asset base," said the Edelweiss pre-Budget note. "Priority should be accorded to social and physical infrastructure, agriculture and PSU banks’ recapitalization," the note says.
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