Perspective on Interim Budget 2024 by Mr. Nish Bhatt, Founder & CEO, Millwood Kane International
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Below the Perspective on Interim Budget 2024 by Mr. Nish Bhatt, Founder & CEO, Millwood Kane International
“The budget clearly outlines a commitment to vulnerable sections of society, empowering the middle class, developing next-gen, promoting sustainability, and improving ease of doing business. This is reflected in the commitment made towards affordable housing for those living in rented houses, slums chawls, or unauthorised colonies. It also reflects in commitment towards support to EV manufacturing, and charging infrastructure. And budget announcement of establishing a corpus of Rs 1 lk cr with 50 yr interest-free loan tech-savvy growth.
In this budget, the government has stuck to its path of fiscal consolidation, without compromising on the quality of expenditure. The government’s commitment to growth is reflected in FY25 capex target which is set at Rs 11.1 lakh crore, up 11.1%. On the other hand fiscal deficit estimates for FY24 is revised to 5.8% of GDP as revenue receipts exceeded budget estimates. While, for FY25 fiscal deficit is expected at 5.1% of GDP vs industry expectations of 5.2%.
There is also an intense focus on research and innovation with very significant outlays for supporting research in the private sector, with very low-cost loans”
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