Interim Budget 2004: Focus on credible fiscal math amid global scrutiny
Finance Minister Nirmala Sitharaman
Although Finance Minister Nirmala Sitharaman has tempered expectations on the interim budget for 2024-25 presented today, saying there will be no “spectacular announcement”, this has not stopped key sectors from having their own budget wish lists. Whether or not the government announces pre-poll SOPs from key voter groups, the interim budget will ultimately be judged based on the credibility of the budget calculations.
This is especially true given India’s inclusion in global bond indices from next financial year, where fiscal figures will be under increased scrutiny. While the next government will get another chance to revise the numbers during the full budget to be presented sometime in July, credible numbers in the interim budget that can withstand global uncertainties will be welcomed by analysts and markets alike. A cursory look at the interim budget 2019-2020 shows that the Narendra Modi government wants to keep its budget calculations credible.
First print: February 1, 2024 | 12:34 pm IST