An embodiment of reform, perform, and transform

THE FINE PRINT The Finance Minister presented a comprehensive Budget that laid the foundation for fiscal prudence and sustained long-term growth, embodying the government's commitment to 'Reform, Perform, and Transform' during the 'Amrit Kaal'.

- NILESH SHAH

The unwavering focus remained on critical pillars such as job creation, robust investments, inclusive growth, and fiscal responsibility. The key highlight of the Budget is the government's steadfast dedication to fiscal prudence. The government lowered the gross fiscal deficit target to 4.9 per cent of GDP for FY25 against 5.1 per cent in the interim Budget and 5.6 per cent in FY24 (P), which underscores a sustained effort towards long-term financial stability. The government's fiscal consolidation strategy appears well-planned, with conservative estimates, projecting tax collection growth at 11 per cent, indicating a tax buoyancy of 1.1. The lower-than-expected gross borrowings further enhance the fiscal outlook, contributing to lower bond yields and avoiding the crowding out of private investments.