Great budgets like the 1991 Manmohan Singh Budget are born under difficult times. These are challenging times for the Indian economy. The threat of a trade war is looming large. Domestically, the growth rate has dipped to a four-year low. It goes to the credit of Finance Minister Nirmala Sitaraman that she rose to the occasion and presented a bold Budget that is capable of addressing the serious challenge of growth slowdown being faced by the economy.

The fact that the Finance Minister has given the much-needed relief to the middle class without compromising on fiscal prudence is praiseworthy.

Fiscal stimulus and massive tax relief

The biggest macro challenge being faced by the economy now is the dip in GDP growth rate. After staging a smart recovery in GDP growth post-Covid clocking growth rates of 9.7 per cent, 7 per cent and 8.2 per cent during FY22, FY23 and FY24 respectively, growth is estimated to dip to 6.4 per cent in........

© Free Press Journal