Economic setting allows quick fiscal consolidation
The interim budget comes in a backdrop where the growth momentum is becoming more entrenched, macro-economic stability is strengthening and confidence among businesses and consumers is improving.
Railways eyes makeover amid hopes of record capex
Capital expenditure for the railways is likely to be increased by about 25% of the FY23-24 budget estimate, taking the budgetary allocation to more than ₹3 trillion in FY24-25.
Budget likely to give momentum to India’s energy transition pledge
The interim budget in India, set to be presented on 1 February, may include revisions in taxes and duties on battery energy storage systems and green hydrogen supply chain components. This move would provide a boost to the growth of these sectors.
Textiles ministry may get marginal budget increase of 2.5%
The textile ministry is expected to get a marginal budget increase of 2.5% for the fiscal year 2025, taking its allocation to ₹4,500 crore.
Credibility has been a highlight of India’s budgets
The government's interim budget may not include policy announcements, but it is important to consider its fiscal policy goals. The economy aims to achieve a $5 trillion GDP and sustainable growth.
