Interim Budget 2024: Impact on the macroeconomics of Indian economy
Welcome to the EY India Insights podcast. In today's episode of the Interim Budget 2024 series, our host, Ragini Trehan, engages in an insightful conversation with Dr. D.K. Srivastava, Chief Policy Advisor at EY India. Dr. Srivastava dissects the macroeconomic impact of the interim budget on the Indian economy, and sheds light on key takeaways, fiscal priorities, and growth signals, offering a nuanced perspective on tax revenue estimates and the journey towards fiscal consolidation. Join us as we deep dive into the economic intricacies that shape India's financial landscape.
In conversation with:
D. K. Srivastava
EY India Chief Policy Advisor
Key takeaways
- Interim budget 2024 strikes a balance between fiscal consolidation and growth support, reducing deficit and sustaining capital expenditure.
- Interim budget 2024 presents realistic tax revenue growth estimates with room for improvement, driven by conservative buoyancy and nominal growth assumptions.
- India is well on its path towards fiscal consolidation but reaching the Fiscal Responsibility and Budget Management (FRBM) target of 3% may take several years.
In the interim budget 2024, the Finance Minister navigates fiscal balance based on realistic tax growth and a steady path to fiscal normalization.
For your convenience, a full text transcript of this podcast is available on the link below: Read the transcript.
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Podcast
Duration 08m 39s
