On this backdrop, it provides the right ingredients for laying the foundation to help propel India to the next decade of growth aligning with the goal of Viksit Bharat. The budget outlines nine priorities including growth and employment. It is a balanced mix of progressive policies aimed at fostering job creation, boosting infrastructure, supporting agriculture and simplifying the tax structure.
The Union Budget has walked the fine balance between productive expenditure and fiscal consolidation. The targeted central fiscal deficit is set at 4.9% as compared to 5.1% set in the vote on account.
More importantly, the government continues to move on the path of fiscal consolidation seeking to bring down the fiscal deficit to below 4.5% of GDP [gross domestic product] in the 2025–26 financial year with the guidance to reduce debt-to-GDP ratio in the future.
The government announced lower net (Rs 11.6 lakh crore versus Rs 11.8 lakh crore) and gross (Rs 14 lakh crore versus Rs 14.1 lakh crore) market borrowing estimates compared to the interim Budget, led by the lower fiscal deficit estimate. At these levels, net market borrowing is likely to fall 1.5% year-on-year, at a time when nominal GDP is meant to grow 10.5% year-on-year keeping the supply-demand dynamic favourable.
Jobs And Skills
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
'Automation is Redefining Efficiency and Precision in Jewellery Manufacturing'
Increasing brand consciousness and awareness among consumers is helping expand the organised jewellery retail industry. MP Ahammed, chairman of Malabar Group, discusses prominent trends in the jewellery industry
BATTLE TO WIN THE AI RACE
In Supremacy, Parmy Olson tells the astonishing and behind-the-scenes story of the battle between the world’s two leading artificial intelligence firms, OpenAl and DeepMind and the continuing rivalry of its founders Sam Altman and Demis Hassabis respectively
A LEADER WHO EMPOWERS
Anshul Arzare, MD and CEO of YES SECURITIES, wants to ensure a workplace where employees not only contribute to the company's vision but also feel content
EV Unplugged
Electric vehicles are crucial to India’s climate change plan. But reliance on China for imports and technology constraints remain hurdles the sector needs to overcome
Every Lamborghini Owner is a Brand Ambassador
Regional director of Automobili Lamborghini, Francesco Scardaoni, talks to Prachi Khanna about the brand’s approach to fostering a sense of community among its vehicle owners. Edited excerpts
NO ZEST FOR ZED
A government initiative to green MSMEs is not finding enough takers
SMALL PLANTS, BIG TROUBLE
Climate-triggered stress is placing an unprecedented burden on small businesses. But a lack of access to climate aid hinders the sector's ability to adopt greener methods
'We Think About the Rider More Than Any Other Company
Rapido co-founder Aravind Sanka talks to Neeraj Thakur and Deepsekhar Choudhury about how flexibility and fair pay helped his company disrupt the Ola-Uber duopoly. Edited excerpts
LABOUR PANGS
Rising cost of living in a fast-growing economy is making workers restless
'Hustle is No Virtue'
It has become fashionable to talk about the verb “hustle” these days, especially in professional settings.
