Key Points
A fiscal statement high on fiscal rectitude, finance minister Nirmala Sitharaman's interim budget for 2024-25 was on expected lines, offering a little something to everyone but stopping short of making any spectacular populist announcements..
The biggest positive in the interim budget was the fiscal discipline displayed by capping the fiscal deficit for 2024-25 at 5.1%..
While this judicious, non-populist budget may not have made any big direct transfer announcements to boost consumerism in the immediate term, the higher outlay on infrastructure development and sops for rural housing, farming and fisheries would certainly have a multiplier impact and help improve sentiments in the long term...
Increased allocation for infrastructure development in smaller cities will drive economic growth and also create increased employment opportunities, aiding rural India for higher consumption too in the long term...
Overall, this budget is all about maintaining continuity and fiscal discipline, prioritising infrastructure and rural development, and laying a strong foundation for future growth...
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Confident and calculated: Interim Budget 2024-25 strikes a smart balance
03, Feb, 24The unexpected Fiscal Deficit target for FY25, set at 5.1% of the GDP, pleasantly surprised the market, which had anticipated a higher figure. Keeping such an aggressive target has several positive implications for the market.
Budget 2024: A pressing issue that may not wait till full budget
16, Jan, 24The fiscal deficit target of 5.3% will be set by the government in FY25, keeping in view the fiscal consolidation path till FY26, as it normalises capital spending and refrains from any major announcements in the interim budget before the general elections, Icra and Barclays economists have said. ICRA expects the fiscal deficit target for FY25 to be set at 5.3% of GDP, midway through the expected print of 6.0% for FY2024 and the medium-term target of sub-4.5% by FY26.
Interim Budget 2024 works with limitations, gives the next govt a roadmap for 'Viksit Bharat'
02, Feb, 24The Interim Budget 2024 provides guidance for formulating policies to foster and sustain growth, facilitate inclusive and sustainable development, improve productivity, and generate resources to power investments.
Interim Budget 2024: FinMin to prioritise expenditure rationalisation
25, Oct, 23Government remains confident about reaching its budgetary targets for the fiscal year 2023-24 and achieving the 5.9% fiscal deficit goal
Budget 2024: A deeper cut to the fiscal deficit throws up positive surprise
01, Feb, 24In terms of priorities, the interim budget has continued its focus on raising capital expenditure - the type of expenditure which creates assets (think railways, roads, housing) - at a faster pace compared to revenue expenditure (which is essentially spent on salaries, interest payments, pensions, etc). This strategy has been adopted since the pandemic as the government introduced supply-side reforms to support growth by building economic infrastructure. Since FY21, capex has grown close to 30% on average per annum, compared to 11% growth in revenue expenditure.
Budget 2024: FM Nirmala Sitharaman may significantly enhance allocation for farm sector schemes
25, Jan, 24Budget News: The government is likely to significantly enhance allocation for key farm sector schemes and push credit in the interim Budget to boost rural economy. Finance Minister Nirmala Sitharaman is scheduled to present the interim Budget on February 1, which will be the last major economic document of the Narendra Modi-led government ahead of the 2024 Lok Sabha elections.
India's interim budget represents welcome statement of responsible fiscal management in an election year:
06, Feb, 24The US-India Strategic and Partnership Forum (USISPF) also commend the government's continued focus on the trinity of infrastructure, inclusive growth, and fiscal prudence in line with growing US-India commercial ties.
Budget 2024 Highlights: Sitharaman underscores vision for 2047
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Modi govt woos ‘labhartis’ in Budget, continues with bucking up delivery system
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Indian economy witnessed tremendous transformation in past 10 years, says Sitharaman in Budget speech
01, Feb, 24New Delhi [India], February 1 (ANI): The Indian economy under Prime Minister Narendra Modi has witnessed a profound transformation in the last 10 years when the government took several pro-people reforms that were structural, Union Finance Minister Nirmala Sitharaman said on Thursday, as she rose to present the interim Budget for 2024-25. “In 2014, the […]