The Union Budget truly exemplifies the government theme of "India First, Citizen
First". The inclusive development approach was clearly visible through leveraging
the digital infra for multiple utilities, accelerating investment cycle via robust
allocation, green growth, which will catalyse the multiplier effect on the economy.
On the fiscal front, the glide path on reducing fiscal deficit has been complied
with as fiscal deficit is likely to go down to 5.9% in FY24E vs. 6.4% in FY23. Medium
term target of 4.5% fiscal deficit by FY26 is also on track. Most importantly, the
Budget also provided some ease to middle-class tax payers under the new tax regime
(likely to boost overall consumption) and no negative surprise on LTCG, which was
indeed a welcome move.
Key highlights of Budget:
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