CURTAIN RAISER

Why FM Nirmala Sitharaman's Interim Budget sets the tone for continuity during full Budget in July.

-  ASHUTOSH KUMAR

WILLIAM SHAKESPEARE ONCE ASSERTED that "all the world's a stage, and all the men and women merely players," may be to inspire posterity to muster the courage to play its role with conviction when it comes to the grand stage of life. As it happens in a play - the characters recede into the backstage as curtains are drawn, only to prepare and reappear for the next Act when the curtains rise again the real life of an individual, society or a nation, too, has its own rhythm of acts, scenes, emotions, and drama. For a moment, if one considers the Indian economy as the 'stage' and policymakers the 'players', the Interim Budget is - on many counts - a curtain raiser to what lies ahead in the full Budget in July in the country's epic pursuit to be Viksit Bharat by 2047.

Devoid of pre-poll populist schemes and based on foundations, including a strong fiscal footing, a reduced fiscal deficit target of 5.1% of GDP in FY25, capital expenditure worth ₹11.11 lakh crore, lower net borrowing at ₹11.75 lakh crore, and a small yet smart tax sop ensuring benefits to a large section of taxpayers without tinkering the slabs, the Interim Budget has set the agenda for what to expect in July.

Over a dozen deliverables have been listed as guidance for the future. The biggest of them being that the full Budget will carry a roadmap for India’s growth. “Our young country has high aspirations, pride in its present, and hope and confidence for a bright future. We expect that our government, based on it stupendous work, will be blessed again by the people with a resounding mandate. We are working with an approach to development that is all-round, all-pervasive and all inclusive. We are working to make India a ‘Viksit Bharat’ by 2047,” finance minister Nirmala Sitharaman says in her Budget speech.