The Finance Minister, Arun Jaitley, has presented a Budget that looks good from all sides, but one that deserves closer scrutiny to better understand the fiscal maths, and the implications for economic growth. Attention must be paid in particular to the response of the bond market to the government’s borrowing programme. A higher interest rate regime, if it materialises, carries with it the risk of a slower economic recovery than might otherwise have been the case.
In terms of changes introduced, the finance minister has continued with his push for greater progression in taxation of individual income, in incremental
In terms of changes introduced, the finance minister has continued with his push for greater progression in taxation of individual income, in incremental
