Balanced Growth

As India prepares to unveil its Union Budget and monetary policy, policymakers face the daunting challenge of navigating a landscape marked by subdued urban consumption, hesitant private investment, and global economic uncertainties.

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Both fiscal and monetary measures must work in tandem to prioritise growth while maintaining fiscal prudence. The global environment remains volatile, with concerns such as a stronger dollar and trade tensions adding further pressure on emerging economies like India. While India has shown resilience in the past, it cannot afford to ignore the ripple effects of these external factors. The upcoming budget should not only focus on domestic issues but also anticipate global trends, ensuring that India remains competitive on the world stage. The budget must take bold steps to rationalise revenue expenditure. Subsidies, particularly in areas like food distribution, need to be reas s e ssed in light of changing consumption patterns. This would free up resources for more productive investments. For instance, infrastructure development, which has a high mul ti plier effect, requires better allocation and execution. Recent trends, showing underutilisat