BUDGET 2024, to be presented by Finance Minister Nirmala Sitharaman on Tuesday, is effectively a grand challenge on how to spend a bonanza of ₹1 lakh crore. To appreciate, consider the timeline of events and facts. The interim budget of February 2024 defined revenues and allocations to craft the pathway to a Viksit Bharat by 2047. It allocated over ₹11.11 lakh crore for capital expenditure, expanded welfare payments and promised to reduce fiscal deficit to 5.1 percent of GDP. The balancing act triggered hosannas for economic conservatism.
The political and economic landscape has since shifted. On May 22, the RBI approved a transfer of Rs 2,10,874 crore to the government more than double the sum assumed in the budget, creating headroom for a spend of ₹1 lakh crore. This was followed by the June 4 verdict and an altered political reality. It is likely that allocation of the trillion-rupee bonanza is informed and defined by the response to the diminished tally.
This has fuelled a binary narrative on how the bounty of 1 lakh crore (and more from higher tax collections) must be allocated. In the blue corner are folks who argue for a response to the cries of distress from the bottom of the pyramid that influenced the verdict. Those in the red corner advocate a hike in capital expenditure on infrastructure to boost growth and revenues.
Denne historien er fra July 21, 2024-utgaven av The New Indian Express.
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Denne historien er fra July 21, 2024-utgaven av The New Indian Express.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Peter Dinklage joins Roofman
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Tom Holland to star in Christopher Nolan's next?
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Beyond the Boundary
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Sharon Stone and Lily Gladstone join cast of In Memoriam
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Culinary heritage preserved in GI tags
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Sips of success
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M-powering
Transitioning from a drab healthy alternative to a trending everyday superfood, millets have emerged as a popular choice of grain
Impressions of Chettinad mores
EVERY corner of The Folly, Amethyst was loaded with aesthetics on Monday as we entered the venue lured by the aroma of filter coffee served in a davara set five-foot wooden cupboards with glass doors, brass utensils, lantern-shaped chandeliers, wooden cradles, and rows of fashionable attires inspired by the heritage of Chettinad. The outfits are part of 'Payanam', the latest collection by Anavila, a luxury womenswear brand.
THE BALANCE IS BROKEN!
In 'saving' Blue Water, and neglecting Green Water, humankind has put a dent in the laws of nature, as the water cycle, for the first time in recorded history, has gone off balance
Budgam village loses the healer in terror attack
WE have lost the healer and an honest man,\" said Abdul Gaffar, an elderly resident of Nadigam village of central Kashmir's Budgam district. Dr Shahnawaz was among seven persons killed on Sunday in the terror attack on a workers' camp at an under-construction site belonging to APCO Infratech company at Gagangir in central Kashmir's Ganderbal.
