The 2022-2023 budget presented by Finance Minister Nirmala Sitharaman is by far the most balanced, coherent and promising budget presented so far by the minister, putting the priorities right where they should be when it comes to capital expenditures and investment, with direct capital expenditure at Rs 7.5 trillion, representing a 35.4 per cent increase on a year-on-year basis.
While a planned fiscal deficit of 6.4 per cent of GDP might seem worrisome at first glance, this reflects the well-founded assessment that at this stage of recovery after the tremendous shock inflicted to economic activity by the pandemic, this is time
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