Shri Ashishkumar Chauhan, the astute leader at the helm of the National Stock Exchange (NSE), encapsulates Budget 2024—a culmination of a decade of pivotal decisions. Chauhan’s roundup begins with a resounding applause, a perfect 10/10 for the budget’s commitment to policy and taxation continuity. The symphony of growth, welfarism, and fiscal restraint plays a central role in this financial performance. The fiscal scorecard sees a notable improvement with the revised fiscal deficit for FY23-24 at 5.8%, surpassing the initial estimate by 10bps. The subsequent reduction to 5.1% for FY24-25 charts a strategic course towards fiscal prudence and stability.
Chauhan navigates through the budget’s crescendo—the record capex outlay of Rs 11.11 lakh crore, equivalent to 3.4% of GDP. A strategic investment in roads, transport, and railways promises a transformative impact, with a remarkable 27% CAGR over the last five years.
Capital expenditure takes center stage, comprising 23.3% of total expenditure—the highest in 30 years. The roundup concludes with a note on the budget’s social security framework—a comprehensive safety net covering power, health, housing, cooking gas, and financial inclusion. In Chauhan’s roundup, Budget 2024 emerges as a decade-defining performance, balancing vision, fiscal prudence, and societal well-being.
