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Below is Post Budget Reaction From Mr. Raghvendra Nath, Managing Director – Ladderup Wealth Management Private Limited

“Like the last couple of years, the finance minister has rightly changed the budget exercise into a Vision exercise, where it lays down the Vision of the government for the next few years and make sure that all the facets of the economy are taken care of. Today the finance minister announced initiatives like green energy, inclusive development, reaching last mile, infrastructure investment, unleashing potential, youth power and financial sector which are required. While most of us await tax reforms, there is only so much that can be done in increasing or decreasing taxes. Ultimately, how the govt spends the revenues and borrowings has a far greater impact on the Economy and the people.

From an Economic standpoint, keeping the fiscal deficit at 5.9% for FY 24 and more importantly, promising to bring down the fiscal deficit to 4.5% by FY25-26 is a big statement which has been welcomed by the market. Another positive is the unchanged government borrowing programme at the previous year’s level. There was an apprehension that since this is the last budget before the general elections next year, the government may spend more. The good thing is that the government has shown fiscal prudence in bringing down the fiscal deficit and keep the borrowing unchanged.”

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