Whilst the Budget has not hit any self-goals or given reason for any interest group to be particularly distressed, the Budget was a good holding operation at best.
The Indian economy is currently undergoing an extraordinary amount of flux. GDP growth in FY18 is likely to be a challenge and the banking system is dealing with unprecedented levels of asset quality stress. Besides, boosting capex spends and setting aside 0.07 per cent of GDP for recapitalising banks, the central government did not do much to address these two fundamental issues.
GDP growth in India is decisively slowing as evinced by the dramatic
