Gurpreet Chhatwal02 Feb 2023, 18:32
The budget for fiscal 2024 is growth-oriented and focuses on capital spending to stoke demand and ultimately crowd in private-sector investments. It also provides support to micro, small and medium enterprises (MSMEs) and should boost consumption demand through tax concessions. Yet it plans to stick to the fiscal consolidation path — there is no borrowing shock — which augurs well for interest rates. Such tidings will prepare the economy for its next phase of growth.