Budget 2024: Fiscal figures are looking more realistic, economists gave this opinion regarding the budget

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Budget 2024: Analysts and economists appreciated the low fiscal projections in the Interim Budget 2024-25, saying that this shows that the government is serious about fiscal consolidation even in an election year. He also said that these projections look realistic and can be achieved. India Ratings Chief Economist Devendra Kumar Pant said the interim budget mainly focused on two areas – fiscal consolidation and agriculture/rural economy. He said the government wants to extend the various benefits of economic growth to all, which At present, it is somewhat in favor of urban families with higher income group.

Government is serious about achieving fiscal deficit target- Pant

Devendra Kumar Pant said that the figures show that the government is serious about achieving the target of 4.5 percent fiscal deficit by the financial year 2025-26. Aditi Nair, chief economist at ICRA Ratings, said that capital expenditure is higher than expected, which shows that the quality of expenditure is going to be better than before. He said sharp fiscal consolidation and decline in borrowing will help in further reducing the yields on government securities in the coming year.

Inclusive growth given boost in budget

Yezdi Nagpurwala, Chief Executive Officer (CEO), KPMG India, said that the interim budget is not influenced by short-term political compulsions and has ensured that the fiscal deficit remains under control. He said that the budget will provide support to the poor, women, youth and farmers, basic Equitable and inclusive growth has been promoted by focusing on infrastructure development and fiscal consolidation.

Sarbveer Singh, Joint Group Chief Executive Officer (CEO) of Policybazaar said that the plans of Interim Budget 2024-25 are a big step towards improving India. A clear blueprint has been presented for the development of the country focusing on the welfare and upliftment of women, the underprivileged, farmers and youth. Adopting the ‘Digital India’ initiative makes us a leader in the global digital arena. Akhilesh Gupta, Chief Investment Officer, life insurance company Aviva India, said that the unexpected reduction in the estimated fiscal deficit for the next financial year (5.1 percent) is indeed positive.

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