Praising the budget, presented by Union Finance Minister Nirmala Sitharaman on July 23, the Commerce Minister noted that the interim budget presented in February set the course for the full year.
Elaborating on the long-term vision of the Union Budget 2024-25, he explained that budget could take two forms; the one filled with populist announcements may be beneficial in the short term but will be harmful in the long run. “The populist decisions of the budget can benefit us immediately, but their impact is harmful for the country,” he added.
Reflecting on the aftermath of government spending during the financial crisis of 2008-2009 in the USA, he said, “India increased the fiscal deficit after the global meltdown of 2008-2009.
This story is from the July 29, 2024 edition of The Business Guardian.
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This story is from the July 29, 2024 edition of The Business Guardian.
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