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Budget reveals policy priorities: Gautam Chhaochharia

Business Standard 

Gautam Chhaochharia

The FY15 Budget, as expected, reveals the government's priorities, both near-term and medium-term. The moderation imperative overshadows near-term headline growth desires. The projected of 4.1% of in FY15 and 3.6% of in FY16 vs. the 4.5% recorded in FY14, is in line with our expectations.

The fiscal arithmetic remains challenging nevertheless, given the legacy of rolled-over expenses . Our target for 2014-end is 8,000. There could be an upside to the target based on how policy-making evolves


Gautam Chhaochharia
Head of India Research, UBS

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