BUDGET MAKING should be about optimal resource allocation, leading to better and effective outcomes. While the allotment is critical, the commentary is equally important. It signals the long-term direction.
Fine Balance The budget is forward looking; wellcrafted, adheres to fiscal discipline and lays the foundation for a stable and predictable growth environment. It’s a good platform to spur economic activities, boost consumption, and create productive assets. Under an enabling condition, it will ‘value migrate’, pump-prime the economy and support sustainable and inclusive growth.
India suffers of a poor and deficient infrastructure, which is an essential building block of the economy. This budget signals that the government is willing to shoulder the responsibility of infrastructure creation and equally lead the investment cycle. This will both nudge and goad private capex.
Infrastructure Capex will drive sustainable and robust growth by creating assets like roads, bridges, transit, water, power, rail network etc. Infrastructure triggers growth, boosts the economy and pedals the virtuous growth cycle.
This story is from the March 11, 2023 edition of Business World India.
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This story is from the March 11, 2023 edition of Business World India.
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