Budget 2021 Analysis And Key Highlights: Care Ratings
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Care Ratings Research Report
The Union Budget announced on February 01, 2021, is in our view, indeed a landmark budget and probably took the nation by surprise.
Did it meet expectations? Oh sure yes, as the Finance Minister Nirmala Sitharaman has taken a bold step of not procrastinating crucial expenditure at a time when fiscal deficit is already running very high and additional sources for revenues appeared to be very limited.
Instead, the FM has rightly pushed the attainment of the fiscal consolidation objective by a few years to make room to continue to borrow more although it will be lower relative to last year.
Targeting a fiscal deficit of 6.8% and keeping an extended timeline before we move below the 4.5% mark makes a lot of sense as the first priority for the government unequivocally had to be ‘Growth’ in order to get the economy back on its rails post-pandemic.
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