Budget 2018: Spotlight shifts on health, says HDFC Life MD Amitabh Chaudhry

The estimate for next year is based on prudent assumptions for tax revenue growth

There is a clear focus on the rural and agriculture sectors, the lower income category and the MSMEs. In a year with multiple elections looming on the horizon, the government has eschewed outright populism and has made efforts to continue down the fiscal consolidation path, albeit with an allowance for the revenue distortions caused due to structural changes implemented during the year.

While the current year’s fiscal deficit has been revised to 3.5 per cent against the budget estimate of 3.2 per cent, the target for next year is set at 3.3 per cent of GDP.

The estimate for