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Below the Quote on Interim budget expectations by BK Bajaj, CEO, Informerics Ratings and Valuation

The Budget 2024, despite being a ‘Vote on Account’, has aroused high expectations because India has emerged as a global growth driver and the widespread belief that the policy initiated by this government are likely to return to power.

Despite the constraints of a Vote on Account, we expect that Government will continue with thrust on fiscal consolidation, easements of business and taxation laws, infrastructure, MSMEs, and financial inclusion. The Government could also focus on expanded PLI (production-linked incentive) scheme, to give a fillip to the manufacturing sector rural welfare with an accent on the farmer income transfer, housing for all.  

Policy changes aimed at encouraging innovation and streamlining regulatory frameworks would provide a fillip to the BFSI sector.

We expect a clear message that the process of reforms initiated in various sectors is here to stay and gain momentum. But while influencing the process and pattern of economic growth and structural transformation, there could be a sharper focus on the needs of the people at the bottom of pyramid.

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