IGI Logo

Below the Quote on Union Budget: Balancing Fiscal discipline with Economic growth initiatives by Satish Menon, Executive Director, Geojit Financial Services

"The budget was anticipated to build upon the progressive measures outlined in the interim budget. However, the overall government expenditure aligns with the interim budget's goal and focus is to reduce the fiscal deficit to 4.9%, significantly lower than the 5.6% estimated for FY24. Key positives are new macro-initiative aimed at job creation, workforce skill development, improvements in agriculture, urban & rural housing, and higher funding the MSME sector, which should uplift the masses.
 
Increase in capital gain tax is a negative surprise, the 5% increase in STCG is likely to adversely affect short-term investors in the near term."

Above views are of the author and not of the website kindly read disclaimer