India's Budget 2024: A Delicate Balance of Short-Term Needs and Long-Term Fiscal Goals
Experts Dr. Surjit Bhalla and Aditi Nayar discuss the fiscal fine print of India's Budget 2024, praising its balance of immediate economic needs and long-term fiscal goals.
Business NewsBudget 2024Fiscal GoalsEconomic GrowthIndia EconomyReal Estate NewsJul 27, 2024
Dr. Bhalla commended the budget for promoting growth and investment, praising its alignment with the long-term vision of 2047. He noted that the budget's focus on fiscal deficit and tax ratio is a significant step towards achieving the country's ambitious growth targets. Aditi Nayar echoed this sentiment, highlighting the budget's strong fiscal discipline. She observed that the fiscal deficit is at the lower end of expectations, demonstrating a judicious approach to capital expenditure. Nayar also emphasized the modest revenue expenditure and the strategic shift towards achieving the debt-to-GDP target, marking a forward-looking fiscal strategy.
Both experts concurred that Budget 2024 strikes a delicate balance between addressing immediate economic needs and pursuing long-term fiscal goals. They praised the government's efforts to promote growth, investment, and fiscal discipline, while keeping a keen eye on the country's debt-to-GDP ratio. As India charts its course towards becoming a $5 trillion economy, the budget's focus on fiscal prudence and sustainable growth is a welcome development.
ICRA Limited is an Indian independent and professional investment information and credit rating agency. Dr. Surjit Bhalla is a prominent economist and former Executive Director of the International Monetary Fund (IMF).
ICRA Limited is a leading rating agency in India, providing independent and professional investment information and credit ratings. With a strong reputation for accuracy and reliability, ICRA has established itself as a trusted partner for investors, issuers, and stakeholders across the country.
Frequently Asked Questions
What is the focus of India's Budget 2024?
The focus of India's Budget 2024 is on promoting growth, investment, and fiscal discipline, while keeping a keen eye on the country's debt-to-GDP ratio.
What is the fiscal deficit target in Budget 2024?
The fiscal deficit target in Budget 2024 is at the lower end of expectations, demonstrating a judicious approach to capital expenditure.
How does Budget 2024 balance short-term needs and long-term goals?
Budget 2024 balances short-term needs and long-term goals by promoting growth and investment, while maintaining fiscal discipline and pursuing long-term fiscal goals.
What is the significance of the debt-to-GDP target in Budget 2024?
The debt-to-GDP target in Budget 2024 marks a forward-looking fiscal strategy, aimed at achieving sustainable economic growth and reducing the country's debt burden.
Who participated in the #BudgetRoundTable2024 conference?
Dr. Surjit Bhalla, a renowned economist and former Executive Director of the IMF, and Aditi Nayar, Chief Economist at ICRA, participated in the #BudgetRoundTable2024 conference.
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