Also, this is Sitharaman's shortest Budget speech (leaving out the Interim Budget of February). She took just one hour and 21 minutes to read it.
The big takeaway from the Budget is the government's commitment to stick to the fiscal-consolidation path. The estimated fiscal deficit for FY25 has been reduced from 5.1 per cent, presented in the Interim Budget, to 4.9 per cent. This has been done without compromising the budgeted capex outlined in the Interim Budget-₹11.1 trillion.
Indeed, this is on expected lines because of the higher dividend payment by the Reserve Bank of India as well as public-sector undertakings, and tax buoyancy. Nonetheless, the sharp drop in the projected fiscal deficit from 5.6 per cent in FY24 to 4.9 per cent is the best part of this Budget. Next year it is expected to go down to 4.5 per cent.
As a result of this, the gross and net market borrowing of the government in FY25 is estimated at 14.01 trillion and ₹11.63 trillion, respectively -- against 14.13 trillion and ₹11.75 trillion projected in the Interim Budget and much lower than the previous year's ₹15.43 trillion and ₹12.29 trillion.
This story is from the July 24, 2024 edition of Business Standard.
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 July 24, 2024 edition of Business Standard.
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
Avoid partial payout: Buy health cover with fewer sub-limits
At a recent Confederation of Indian Industry (CII) summit, Satyajit Tripathi, member (distribution), Insurance Regulatory and Development Authority of India (Irdai), highlighted that grievances in general insurance, especially health insurance, mainly revolve around claim payments.
'Largecaps appear reasonably valued'
Investors entering equities should come in with a long-term horizon to ensure short-term fluctuations amid high valuations do not derail the wealth generation, says DEEPAK SHENOY, chief executive officer and founder of Capitalmind.
Sustained FPI activity lifts Sensex, Nifty
Equity benchmark index Sensex rebounded nearly 100 points to hit a lifetime closing high on Monday and Nifty scaled an intraday record level, propelled by bargain hunting in energy, utility and banking stocks amid sustained foreign fund inflows.
Investors may book partial profit: Brokerages
Analysts on Monday attributed the blockbuster debut of Bajaj Housing Finance Ltd (BHFL) on the bourses to its strong fundamentals and the brand 'Bajaj', and said it could emerge as a long-term wealth creator.
Interest, trust of investors humbling: Sanjiv Bajaj
Sanjiv Bajaj, chairman and managing director of Bajaj Finserv, on Monday said he expected 12-15 per cent credit growth in the housing finance industry, amid the strong tailwinds in the economy.
Trent may replace Bajaj Finserv in Sensexrejig in December
Bajaj Housing Finance Ltd's impressive stock market debut has brought cheer to the 100year-old Bajaj Group, but the conglomerate faces the prospect of Bajaj Finserv being removed from the benchmark Sensex index.
Sebi withdraws earlier statement on staff unrest
The Securities and Exchange Board of India (Sebi) on Monday said it was amicably addressing the concerns of its protesting employees on \"internal\" matters, as it withdrew an earlier press release that claimed that its staff's complaints were influenced by external elements.
The clash of 'will'power: The jury is still out
Following courtroom drama, experts analyse which one will dominate legal proceedings
FIRST LINE OF DEFENCE
Why New Delhi is underlining the role of border villages as custodians of India's frontiers
A fine balance
Markets in agriculture must be allowed to function
