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- Budget Part B: Economy Future Vision Possible | Tax & Policy Announcements Pending
New Delhi1 hour ago
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Nirmala Sitharaman (file photo)
Finance Minister Nirmala Sitharaman may break the 75-year-old tradition in the budget to be presented in Parliament on February 1. This time, Finance Minister Nirmala Sitharaman can present a detailed vision about the future of India’s economy in Part B of her budget speech. Till now, most of the important things in the Union Budgets were in Part A while Part B was usually limited to tax and policy announcements.
NDTV quoted sources as saying that both short term priorities and long term targets of the government can be put forward in Part-B of this time’s budget. In this, emphasis will be laid on the local strengths and global ambitions of India entering the second phase of the 21st century.
Economists in India and abroad are keeping a special eye on this budget, because it is expected to reveal not just tax changes but a comprehensive roadmap for the country’s economic direction.
Sitharaman will present the budget for the ninth time
This will be Sitharaman’s ninth consecutive budget. In his first Budget in 2019, he replaced the leather briefcase used for decades to carry budget documents with a traditional ‘bahi-khata’ wrapped in red cloth. This year’s budget will be paperless like the last four years.
After achieving the fiscal consolidation roadmap with a lower deficit at 4.5 per cent of GDP in FY2026, markets will be eyeing a reduction in the debt to GDP ratio in the FY2027 Budget. They will also see whether the government will provide any specific figures of fiscal deficit for the next financial year.
The planned capital expenditure of the government for this financial year has been fixed at Rs 11.2 lakh crore. Given the cautiousness of private sector players, the government may keep its focus on capital expenditure in the latest budget. Capital expenditure will be increased by 10-15 per cent from the current level.
Along with major schemes like VB G RAM G G, special attention will also be kept on the expenditure on key areas like health and education.
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