The government has steered clear of a populist Budget in what is the last full Budget before the general elections scheduled next year, analysts said on Wednesday.
Motilal Oswal, MD & CEO, Motial Oswal Financial Services, said the Budget remains focused on long-term economic growth through capex and sops to boost consumption for the middle-income group. This would support strong corporate earnings with positive bias for sectors like infra, housing, cement, capital goods, auto and tourism. Despite the upcoming state elections, the government did not deliver a populist Budget and tried to maintain fiscal prudence, Oswal said.
Vinod Nair, Head of Research at Geojit Financial Services, said the market had mixed expectations on the budget presuming to be populist and low elbowroom for the government ahead of the slowing economy, high inflation and interest rates.
George Thomas, Fund Manager - Equity, Quantum AMC, said the government has chosen higher capital expenditure as the main catalyst to stimulate the economy than any major consumption boost. Budgeted capex has a robust growth of 37 per cent over the revised estimates of the current year.
Thomas said despite being the last full Budget prior to Lok Sabha elections, the absence of major populist measures is positive.
The Budget lacked any major direct measures to stimulate consumption and rural economy. Absence of any changes in capital gains tax rate is a relief. Overall, the fiscal consolidation pathway and robust infra spends would support the broader economic growth in the medium term.
Sachin Menon, Partner and Head, Indirect Tax, KPMG in India, said that kudos to the Finance Minister and her team for pulling off a growth-oriented Budget without much populism in a pre-election year.
FM says GST rates to be reduced further, rationalised; Congress demands overhaul
Union Finance Minister Nirmala Sitharaman has said that Goods and Services Tax (GST) rates will be reduced further as the process of rationalising tax slabs is nearing completion.
'Anti-incumbency is an issue of the past now': J.P. Nadda hails PM Modi's leadership in Tripura rally
Bharatiya Janata Party (BJP) national president J.P. Nadda on Sunday said that the political culture in India has changed after Narendra Modi became Prime Minister, adding that people earlier used to talk about the anti-incumbency factor against the government.
Budget Session: Second leg to see fireworks over delimitation row, Trump's tariffs; Waqf Bill on govt's agenda
The second leg of the Budget session of Parliament is set to resume on Monday and is expected to be a stormy one with both the Opposition and Government ready to outdo each other on multiple issues.
PM Modi visits Vice President Dhankhar in AIIMS, wishes him speedy recovery
Prime Minister Narendra Modi on Sunday visited the AIIMS Delhi to enquire about the health of Vice President Jagdeep Dhankhar and prayed for his speedy recovery.
India, EU to hold next round of trade talks on March 10
India and the European Union are scheduled to begin the next round of talks for a proposed free trade agreement (FTA) from Monday in Brussels with the aim of concluding the talks by the end of this year, a senior official said.
Nari Shakti is foundation of Viksit Bharat: CM Manik Saha
Tripura Chief Minister Prof. Dr. Manik Saha today said that women are crucial for making Ek Tripura Srestha Tripura and Nari Shakti of the 21st century is the foundation of Viksit Bharat.
BJP accuses CPI(M) of attempting to disrupt mega public gathering by making lies
Addressing the media on Saturday, Chakraborty claimed that the CPI(M) had a history of suppressing dissent during its rule, alleging that people who refused to participate in their rallies were deprived of employment opportunities under schemes like MNREGA.
STGT aspirants holds protest near CM’s resident, demands recruitment
A large group of unemployed youth who had successfully passed the 2022 Selection Test for Graduate Teachers (STGT) exam took to the streets today, demanding immediate recruitment.