Anand Mahindra Applauds the Pragmatic Approach of the Latest Budget
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It is known that today, Finance Minister Nirmala Sitharaman introduced the interim budget in Parliament. Renowned businessman Anand Mahindra responded interestingly to this.
What is a budget? How should we view the budget? What is the benefit of the budget? Anand Mahindra explained these aspects in his post.
"I have been saying for a long time... We create much drama around the budget. We escalate unrealistic expectations about the policy announcements made by the center to an extreme level. The budget is not the only context for policy announcements aimed at development... Transformative policy announcements can be made at any time during the year. However, the budget provides an opportunity to plan our financial needs with wisdom and discipline. The more we focus on investing for a stable and sustainable future, the more confidence we will garner from global investors," explained Anand Mahindra.
He also elaborated in his lengthy post why today's budget satisfied him. Among various concise speeches, today's budget speech was also brief. Such concise speeches are welcome and filled with confidence.
It did not resort to populist announcements considering the upcoming elections. We know how budgets are usually before elections. Today's budget is different from those, and I welcome it. Moreover, I hope this trend continues in the future.
The fiscal deficit target is better than expected. This budget, imbued with wisdom, has achieved a decisive victory in that direction.
There were no significant changes in taxes and duties, underscoring the high value businesses place on stability and predictability, which was clearly reflected in this budget.
A particularly positive development was the higher Tax to GDP ratio, a long-awaited achievement that lays a strong foundation for fiscal flexibility and the capacity for aggressive expenditure when necessary. This is an aspect that the Finance Minister can, and indeed should, emphasize more vigorously.
With the budget's practical and measured approach, the focus can now shift back to work and the efficient execution of plans, bridging the 'Setu' towards a more prosperous India.