The FM has desisted from presenting a populist budget ahead of 2024 general elections and targeted a lower fiscal deficit for FY24. She has unveiled measures to create better infrastructure, improve ‘ease of doing business,’ encourage pharma innovation, spur domestic consumption and galvanise climate action through a thrust on green economy and energy transition.
The FM must be praised for sticking to the path of fiscal consolidation by targeting a half per cent reduction in fiscal deficit to 5.9 per cent in FY24. She has also reiterated her commitment to meet a medium-term goal of reducing the deficit further to under 4.5 per cent by FY26.
To stimulate a virtuous cycle of investment, the FM announced a 33 per cent hike in capital investment outlay to Rs 10 trillion for FY24. She also announced other measures for infrastructure creation, including a capital outlay of Rs 2.40 trillion for the Indian Railways, a push for revival of air transport infrastructure, continuation of the 50-year interest-free loan to state governments for another year, and proposed a Rs 10,000 crore per year Urban Infra Development Fund for Tier-2 and Tier-3 cities.
The speedy and efficient implementation of these projects can help kick-start a multi-year capex cycle in India by crowding in private capex investments.
هذه القصة مأخوذة من طبعة February 25, 2023 من Business World India.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة February 25, 2023 من Business World India.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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