The budget has delivered a Triveni Sangam of fiscal prudence by lowering the deficit this year to 4.8 per cent of GDP and next year to 4.4 per cent of GDP below street expectations, boosting urban consumption through income tax cuts by giving a tax cut for income up to Rs 12 lakh and enhancing allocation for capital expenditure by 10 per cent at the central level and 17 including grants.

The budget has invested in the future by allocating Rs 10,000 crore for a start-up Fund of Fund scheme; Rs 25,000 crore for shipbuilding through a Maritime Development Fund; and Rs 20,000 crore for small modular nuclear reactors. All these investments are futuristic and could have a multiplier effect on the economy.

The budget’s focus on education — through the digitisation of school and college books, broadband availability to government schools, and tens of thousands of Atal Tinkering Labs to encourage innovation — is a step in the right direction to ensure that the country’s next generation is better educated and employable.

Developing the labour-intensive toys and footwear industry and the renewable energy sector through a manufacturing ecosystem and clusters of excellence will require faultless execution.

The budget focuses on the tourism sector and aims to develop 50........

© Indian Express