"TAX CUT TO PUT MONEY INTO PEOPLES' HANDS"

Tuhin Kanta Pandey, Finance and Revenue Secretary, and Arunish Chawla, Secretary of DIPAM, explain the macro philosophy of the Budget

- SIDDHARTH ZARABI

UNION BUDGET 2025-26, presented on February 1, had a bunch of proposals that will have implications down the line. Tuhin Kanta Pandey, Finance and Revenue Secretary, and Arunish Chawla, the Secretary of the Department of Public Asset Management, explain some of these aspects of the Finance Bill. Edited excerpts:

This Budget sticks to fiscal consolidation even as it has done something for people who opt for the new tax regime. On infrastructure, has the government shifted away from the capex-driven strategy of the last few years to a consumption driven strategy?

Tuhin Kanta Pandey: I think this binary is not in order. In terms of narrative, of course, the tax break has taken the lead. But that is not to say that capex has been ignored. If you look at the capex in the last year, we have got two distinct elements in the Budget.