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"For an interim budget, the announcements made today reinforced the Government’s resolve on fiscal consolidation and pro-growth outlays that steered away from populist spending, especially ahead of a major election. Thus, as against street expectations, the Government projected a lower fiscal deficit of 5.1% of GDP in Fy25. The 11% increase in infrastructure spending also was a welcome surprise. Support for innovation and start-ups and a significant thrust on renewable energy reflect impetus towards much needed focus areas. Finally, through lowering its borrowings, the Government has made space for the private sector to step in and take over the baton on investment spending. Overall, a welcome part of the broader vision for a ‘Viksit’, Developed and Prosperous Bharat@ 100 by 2047. "