Shri Ashishkumar Chauhan, the astute MD & CEO of the National Stock Exchange (NSE), awards a pristine 10/10 to Budget 2024, recognizing it as a meticulous composition of fiscal sagacity. From a financial standpoint, Chauhan lauds the government’s strategic focus on growth, welfarism, and fiscal restraint, underlining a commitment to economic resilience. The fiscal horizon brightens with the revised fiscal deficit for FY23-24 standing at 5.8%, a commendable 10bps improvement from the initial projection. A bold move to curtail the deficit further to 5.1% in FY24-25 surpasses expectations, reinforcing fiscal discipline.
In the financial opus, Chauhan notes the crescendo—the capex outlay soaring to Rs 11.11 lakh crore, a record-high at 3.4% of GDP, signifying a substantial investment in infrastructure. The meticulous allocation, especially towards roads, transport, and railways, charts a robust CAGR of 27% over the last five years.
Capital expenditure commands attention, comprising 23.3% of total expenditure—the highest in 30 years. Chauhan, in financial admiration, applauds the government’s prudence in quality expenditure. In a financial denouement, Chauhan underlined the social security framework for the underprivileged, strategically aligning power, health, housing, cooking gas, and financial inclusion. This budget, according to Chauhan, is a symphony of growth, fiscal prudence, and strategic financial planning, setting a solid tone for economic buoyancy.
