Budget may prioritize welfare, infrastructure, and follow....?
Budget may prioritize welfare, infrastructure, and follow....?
According to officials with knowledge of the situation, india will meet its fiscal deficit target of 5.9% of GDP in 2023–2024 and mostly follow the planned glide path to bring it below 4.5% by 2025–2026 as a result of strong GDP growth, brisk tax collections, and better spending targeting. Public spending on infrastructure development and welfare programs will also continue, with an emphasis on inclusive growth and low retail inflation. They continued, requesting anonymity, "This will be evident in the interim budget that will be presented on february 1."The entire fiscal year 2024–2025 has been taken into consideration when preparing the interim budget recommendations. According to three officials informed of the development, the budget would be pro-poor and will prioritize vulnerable groups including members of Scheduled Castes and scheduled tribes as well as farmers, women, and youth. Ahead of the summer general election, Union Finance minister Nirmala Sitharaman is expected to propose an interim budget on Thursday; the incoming government will present Union Budget 2024–25 in July.The three officials stated that the bharatiya janata party (BJP), which is optimistic about winning a third term (2024–29), will continue to support both the interim and full budgets for 2024–25. "Since the Modi government is certain to win a third term and is obligated to carry out the budget's commitments, it has carefully drafted the interim budget. Additionally, one of them stated that the Interim Budget will work in tandem with the Full Budget to create a "Vikshit Bharat"—a developed India—by 2047. Another source stated, "The full Budget may enhance allocations further rather than reduce outlays."
According to officials with knowledge of the situation, india will meet its fiscal deficit target of 5.9% of GDP in 2023–2024 and mostly follow the planned glide path to bring it below 4.5% by 2025–2026 as a result of strong GDP growth, brisk tax collections, and better spending targeting. Public spending on infrastructure development and welfare programs will also continue, with an emphasis on inclusive growth and low retail inflation. They continued, requesting anonymity, "This will be evident in the interim budget that will be presented on february 1."The entire fiscal year 2024–2025 has been taken into consideration when preparing the interim budget recommendations. According to three officials informed of the development, the budget would be pro-poor and will prioritize vulnerable groups including members of Scheduled Castes and scheduled tribes as well as farmers, women, and youth. Ahead of the summer general election, Union Finance minister Nirmala Sitharaman is expected to propose an interim budget on Thursday; the incoming government will present Union Budget 2024–25 in July.The three officials stated that the bharatiya janata party (BJP), which is optimistic about winning a third term (2024–29), will continue to support both the interim and full budgets for 2024–25. "Since the Modi government is certain to win a third term and is obligated to carry out the budget's commitments, it has carefully drafted the interim budget. Additionally, one of them stated that the Interim Budget will work in tandem with the Full Budget to create a "Vikshit Bharat"—a developed India—by 2047. Another source stated, "The full Budget may enhance allocations further rather than reduce outlays."