New Delhi: With just a few minutes left for Finance Minister Nirmala Sitharam to present her eighth budget in the Parliament, all eyes are on how the government manages to balance the Gross Domestic Product (GDP) and whether this year’s budget will be a magic bullet for the country’s middle-income group.
Sharing his views, Kartik Malhotra, Executive Editor, of Business at News9 Mediaverse, said the Finance Minister might struggle balancing the GDP growth. “It would be a tightrope for Nirmala Sitharaman to balance GDP growth, which has been failing and balancing fiscal deficit. For fiscal deficit, you want to collect more taxes,” he said.
‘The FM may look at external scenarios’
When asked about salaried persons witing with baited breath due to rising income tax, amid the apparent slowdown in GDP, R Sreedharan said “For precisely this reason, we talk about what is to come come. The FM is going to present a budget that looks at the external scenario. The fight that is going to happen between two global economies. On one hand is the 33 trillion economy which is the US and on the other hand is the 20 trillion economy which is China. If these two giants are going to be clashing, there will be collateral damage to economies like India.
Sitharaman may work on macro economy strategy: R Sreedharan
He added, “The FM will think about how one of the terse that it comes our way, our economy will stay on the ground. It’s the macroeconomy strategy that she will be working out. Largely to make sure that as we move into the uncertain era going ahead, both in terms of tariff and slow down, and in terms of what the survey talks about as a fractional economic scenario, how India keeps its growth trajectory moving. I think those are the areas that FM would look into. It will be nice if she gives something to the middle class, but I guess.”
Finance Minister Nirmala Sitharaman is all set to present her 8th budget today. As per experts, focus will be likely yo on balancing GDP growth and fiscal deficit. They feel the budget may also focus on the impact of the US-China economic conflict on India. Economy Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
