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New Delhi. Mahindra Group Chairman Anand Mahindra says that I always take a day to comment on the budget. Regarding the union budget presented by Union Finance Minister Nirmala Sitharaman on Wednesday, Mahindra says that it has achieved many things. Mahindra lauded the efforts of the Finance Minister in getting India’s economy in good shape, fiscal discipline and getting the economy back on track.
In fact, on Wednesday, a day after the budget was presented in the House, Anand Mahindra said in response to a user’s tweets on Twitter that the Finance Ministry’s DNA has financial discipline and a strong sense of keeping away from extravagance and bankruptcy. Which is quite the opposite of our fragile neighbor. He said this while comparing it with the economy of Pakistan, which is facing a serious economic crisis.
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Why take the time to comment?Mahindra says that they try to understand the budget thoroughly before commenting. That’s why they take time in this. He said that India’s major economy is in good shape and the task of the budget is to maintain that position. That’s why I was very happy to see the high capex. It is about investing for high growth. It was good to see a return to a low fiscal deficit as per our orthodoxy, he wrote. Although this will be difficult to achieve, I have faith in the government that it can speed up disinvestment for the necessary resources.
Fiscal deficit estimated at 5.9 percentThe Finance Minister said in the budget speech that the fiscal deficit for 2023-24 is estimated to be 5.9 per cent of GDP. He said, in my budget speech for 2021-22, I had announced that we plan to continue with fiscal consolidation with a fairly steady decline over the period to bring the fiscal deficit below 4.5 per cent by 2025-26. Emphasizing that we have followed this path, I reiterate my intention to bring down the fiscal deficit below 4.5 per cent of GDP by 2025-26.
The finance minister made these estimatesFinance Minister Sitharaman said that to reduce the fiscal deficit of 2023-24, net market borrowing from dated securities is estimated at Rs 11.8 lakh crore. While the rest of the financing is expected to come from small savings and other sources. At the same time, the estimate of gross market borrowing is Rs 15.4 lakh crore. Explain that according to the budget estimates, the revised estimate of fiscal deficit for 2022-23 is 6.4 percent of GDP.
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Tags: anand mahindra, budget, budget session, business news, business news in hindi, finance minister, FM Nirmala Sitharaman, Nirmala Sitaraman
FIRST PUBLISHED : February 02, 2023, 21:34 IST
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