Budget 2021: Road map for sustainable growth, says JM Financial's Kampani

The Budget kept away from mood dampeners such as an increase in taxes (capital gain taxes) and even the much-feared introduction of Covid cess and wealth taxes, writes Kampani

After the five recovery-driven “mini budgets” to keep the pandemic-hit economy ticking, Union Budget 2021-22 promises to be a growth-oriented one with surprises on multiple fronts. Indeed, in a like “never before” Budget, the Centre kept aside its past fiscal prudence and targeted a fiscal deficit of 6.8 per cent of GDP in FY22 (9.5 per cent in FY21), well-ahead of the consensus view. The Budget kept away from mood dampeners such as an increase in taxes (capital gain taxes) and even the much-feared introduction of Covid cess and wealth taxes.

The privatisation of two public sector banks along with the