February 02, 2021

A credible budget in an extremely tough environment

Niranjan Rajadhyaksha comments on the Union budget of 2021. He reviews it in context with the third stage of the Modi government's support to the economy.

Excerpts below:

"The third stage of the economic strategy has now been unveiled—a fiscal stimulus to ensure that the supply shock is not replaced by a demand shock."

"Finance minister Sitharaman has pulled off a good budget in an extremely tough situation. Her numbers seem conservative. There are welcome policy changes. Much now depends on two factors. First, the ability of the government to actually deliver on the big capital spending push that has been announced. Second, the ability to credibly stick to the fiscal stabilization path that has been laid out for the next few years."

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