Budget steers clear of drama in complex economic environment
By Poonam Gupta
While many observers had expected it to be an ‘election budget’, it turns out that it has skirted populism. It provides continuity in terms of adhering to the policy pathway this government has laid out in the last few years.
Budget 2022-23 is a comprehensive and transparent budget, reflecting confidence in economic recovery. Set against the backdrop of the third wave of Covid, it is a rightly balanced budget. It balances the need to revive the economy against the prevalent fiscal constraints, primarily by focusing on the quality of spending.. Its skilful navigation of fiscal constraints is mirrored in a modest increase in nominal expenditure – a proposed increase of 4.5% in 2022-23 over the revised estimate (RE) for 2021-22; a flat revenue expenditure; and a sharp increase in capital expenditure, reflecting an increase of 24% over the RE for 2021-22.
Read full article on Economic Times: https://economictimes.indiatimes.com/news/economy/policy/view-budget-steers-clear-of-drama-in-complex-economic-environment/articleshow/8928508