Pragmatic and sensible: FM Sitharaman incentivises growth beyond govt capex

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Pragmatic and sensible: FM Sitharaman incentivises growth beyond govt capex - Business Standard

Quick Summary:

By keeping to a fiscal deficit target of 4.4 per cent, she has shown fiscal conservatism and given the Reserve Bank of India the room to cut rates.

Over the past seven years, the government has consciously ramped up public spending, increasing it from 1.5 per cent of gross domestic product (GDP) in FY18 to 3.2 per cent of GDP in FY25 (Budget Estimates).

With control on revenue expenditure, the quality of the deficit has also improved, with the revenue deficit dropping by Rs 86,000 crore in absolute terms, from 1.9 per cent to 1.5 per cent of GDP.