The first Union Budget delivered by the first women Finance Minister was amidst uncertainties over economic growth, revenue short-fall resulted after demonetisation and introduction of GST, rising global uncertainties and muted expectations from the public at large.
The overwhelming majority in the Election 2019 by NDA may have raised the expectations from the public at large for a big bang Budget but fiscal compulsion and a reality check had turned the mindset of people that this would be the Budget that would be high on 5 year road map and low on near term delivery.
Given the circumstances, the FM laid-down the broad guidelines for achieving $5T economy by 2025. The Government also continued with its fiscal consolidation path by sticking to the fiscal deficit target of 3.3% for FY20 and the same would be partly financed by borrowing from international markets. The Budget 2019 also focused on attracting overseas money thereby offsetting part of the problem of lack of capital in the domestic markets.
Please refer – G R A N D M A R K & Associates 2019 Budget Analysis for our detailed analysis of the Union Budget for 2019.
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