Shri Ashishkumar Chauhan, the erudite leader steering the National Stock Exchange (NSE), presents Budget 2024 with an A+ for its enlightening approach towards economic development. As the nation embarks on an educational odyssey, Chauhan commends the government’s commitment to continuity in policies and taxation, providing a stable foundation for economic learning.
The revised fiscal deficit for FY23-24, standing at 5.8%, becomes a valuable lesson in fiscal responsibility, showcasing a 10bps improvement from the initial projection. The subsequent reduction to 5.1% for FY24-25 becomes a masterclass in prudent financial management, enriching the economic syllabus.
Chauhan, in his educational critique, highlights the government’s emphasis on capacity building through increased spending on hard and soft infrastructure—a fundamental chapter in the economic curriculum. The capex outlay hitting a record-high at Rs 11.11 lakh crore, equivalent to 3.4% of GDP, becomes a cornerstone in understanding the significance of infrastructure investments. Capital expenditure becomes the focal point of the lesson, comprising 23.3% of total expenditure—the highest in 30 years. Chauhan underline the quality of expenditure, a vital topic in the economic discourse.
