19 FEB,2020 | MEDC
The budget provided a glimpse to policy priorities in the coming decade, but the fact is that we can – and should – be doing much more to maximize our innate growth potential. The budget’s focus on infrastructural development for sustainable growth is laudable, as it will provide a much needed boost to the economy. Of course, there is no substitute for a bold fiscal stimulus to propel the economy on a higher growth trajectory, which is necessary for India to become a $ 5 trillion economy by 2024. FDI inflows have risen 15% year-on-year to $ 26.1 billion in the first half of this fiscal year. Hopefully, the incentives doled out for foreign investment in this budget will help to attract sovereign wealth funds into our economy. This budget has attempted some interesting experimentation to strengthen macroeconomic fundamentals, and time will be the best judge of its success.
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