My Budget: Ritu Beri

A short interview with Ritu Beri to gauge how Budget will impact people from various walks of life

Do you think the Budget will revive the economy? 

The Budget is balanced with a few things that will increase aggregate demand, which could increase growth. For example, the decrease in tax rates for the income level that consumes the most will 

surely affect demand. Another helpful thing is the elimination of FIPB, which should remove unnecessary regulations and barriers to foreign investment and help growth.

What was the best thing about the Budget?

The two best things are the strict discipline on the magnitude of the deficit and lowering taxes. The rating agencies will like the former and a better rating reduces the borrowing cost for the government.   

And the worst?

There's nothing bad per se, but it is a safe Budget. There is little to increase private investment, without which growth is subdued.

Will the Budget fetch political gains for the Narendra Modi government?

Politics is unpredictable. Sometimes people vote aspirationally and at other times by what affects them individually through sops and government handouts.