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Budget Strikes Balance Between Fiscal Consolidation Growth HDFC s Abheek Barua

HDFC Bank’s Chief Economist Abheek Barua Friday said the central government has tried to strike a balance between fiscal consolidation and supporting growth in the Union Budget.

“With a hike in excise duties, increasing the target for divestments and for the dividend receipts, the government has made sure that overall revenue collections do not suffer. This was especially important at a time when the traction in GST and personal income tax collections remained muted. Now, with the downward revision in the collection target of these two categories, the overall revenue assumptions looks much more credible and pragmatic.

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