The higher growth would make it easy to finance the higher short-term deficits that non-revenue-neutral tax reform would produce.

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But he said that the government would need to control expenses, especially on subsidies such as diesel and fertilizers - mainly non-urea, and expand the tax base to generate more revenue to be able to meet fiscal objectives over the long run.

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Entitlement reform, tax policy and revenue-drawing energy programs are all subject to non-budget related congressional battles.

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