Interim Budget 2024-25: Fiscally responsible, not populist

It is conservative in its arithmetic and will help lower interest rates

The Finance Minister (FM) must be commended for presenting a Budget strong on fiscal discipline and devoid of populist sops. Clearly, the government is confident about the 2024 elections, and sees no need to resort to populism. The Budget sends a strong message of fiscal consolidation, undershooting the 5.9 per cent fiscal deficit target for FY24 at 5.8 per cent and targeting a fiscal deficit of 5.1 per cent for FY25, far better than market expectations. She achieved her fiscal deficit targets despite having lower-than-budgeted nominal gross domestic product (GDP) growth in FY24. In a world where much of the