US-based rating agency Moody's has said, lower taxes and higher public expenditure may widen budget deficit in 2017-18, but steps taken by the government to broaden the tax base and improve spending efficiency would help in narrowing it going forward. In an interview to news agency PTI, Moody's Investors Service Vice President William Foster said, the agency believes that the government's commitment to fiscal consolidation remains and sustained growth would help it reduce debt burden.Moody's had, recently, raised India's sovereign rating for the first time in over 13 years, saying that growth prospects have improved with continued progress on economic and institutional reforms. The rating was upgraded to Baa2 from Baa3 and rating outlook was changed to stable from positive.