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
Bu hikaye Outlook Business dergisinin August 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Outlook Business dergisinin August 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
SHANKAR PRASAD
C'EST LA VIE - MY FAVOURITE
Star Plus
Actor Keerthy Suresh's talents extend far beyond the silver screen. In a chat with Prachi Khanna, she talks about her growing interest in the world of investments - from real estate to tech to co-owning a cricket team
Shelter From the Storm
Taking care of 500-plus homeless was only the first of the challenges; the 24-year-old social worker has done more since
Saying No to Jugaad
In India, people often rely on a quick-fix approach to manage the daily challenges of taking insulin shots. But a Gen-Z innovator has other ideas
Green Skills Champion
An unexpected career choice was the beginning of efforts to demystify the conversation around climate change and raise awareness
Force of Change
An educator's journey that started in the municipal schools of Andheri West is helping bridge the learning gap among young students
An Appetite for Health
The 'food pharmer' has taken on some of the biggest names in the FMCG sector. His mission: to get consumers to read product labels
More Than Medals
India's success at the Paris Paralympics can inspire a new era of inclusivity
Checkmate
A new generation of chess elite, backed by early mentorship and building on the wins of the previous generation, is cementing India's place at the top
On A Strong Wicket
Team India has had a mixed month but a good year. This was the year Rohit Sharma and his boys brought the T20 World Cup back home
