Key Points
Experts and economists have hailed the fiscal projections in the interim Budget, saying the lower fiscal deficit forecast shows that the government, even in an election year, is serious about fiscal consolidation and that the numbers look achievable...
Compared to 5.9%, which was a budget estimate, the actual fiscal deficit has been announced at 5.8%..
The projected fiscal deficit numbers for FY24 and FY25 suggest that the government is serious about achieving the fiscal consolidation path of 4.5 per cent fiscal deficit by FY26, and given the nominal GDP growth assumption and revenue buoyancy, the target appears plausible, Pant said in a note...
Aditi Nayar, the chief economist at Icra Ratings, said the higher than expected capex (Rs 10 lakh crore vs Rs 9.3 lakh crore for FY24, and Rs 11.1 lakh crore vs 10.2 lakh crore for FY25; and lower than projected fiscal deficit of 5.8 per cent for FY24 vs 6 per cent earlier, and 5.1 per cent for FY25 vs 5.3 per cent seen earlier) suggest that the quality of expenditure is going to be healthier than earlier...
This implies that Rs 3.6 lakh crore will be released in Q4, which is 5 per cent higher year-on-year, which provides a further downside to state bond issuance in the current quarter, which was indicated at Rs 4.1 lakh crore, she said.. Ashish Chauhan CEO National Stock Exchange of India (NSE) said, When the Budget speech was being read, three words that came to my mind were growth, welfarism and fiscal restraint..
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