Interim Budget 2024 Reaction By Uttam Tibrewal, Executive Director, AU Small Finance Bank
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Below reaction from Uttam Tibrewal, Executive Director, AU Small Finance Bank on the interim budget 2024.
"The interim union budget for FY 2025 reflects the government's strategic commitment to growth and all-round development while maintaining positive guidance towards fiscal consolidation. The Hon’ble Finance Minister reinforced support towards rural housing, start-ups and digitization which should augur well for robust credit demand. The budget pegged FY’25 fiscal deficit target at 5.1% while reducing the FY’24 target from 5.9% to 5.8%. The budget also aims to push capital spending higher to 3.4% of GDP at Rs 11.1 lakh crore in FY’25. This accompanied by lower gross borrowing of Rs 14.13 trillion should support the interest rate environment and enable room for increased private capex for growth. Overall, the interim budget displays policy continuity while maintaining a fine balance between fiscal prudence and growth.”
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