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Showing posts from July, 2024

Budget 2024- Push and pull of money in the hands of investors and traders

Kudos to Ms. Nirmala Sitharaman for her record making budget speech! Yesterday, she replaced the record of Mr. Morarji Desai(total 6 budget speeches) as she presented her 7th consecutive budget speech! As an Indian and as a woman, I rejoice when such steep records are broken by an Indian woman! Modi government and FM Nirmala Sitharaman are both known for their 'no-nonsense' approach and it is yet another occasion where they have shown that their allies can be supported without losing political control. The government stuck to its policies of continuous capital expenditure (poised to spend 3.4% of GDP in 2024 on capex, Rs. 11.1 lakh crores) along with fiscal prudence and inflation control. Kudos to the government for their ability to control inflation (under 5%) despite the global inflation scenario while keeping the fiscal deficit at 4.9% of GDP. Yes, all are looking at the 'special capex plans and acts' laid out for Andhra Pradesh and Bihar, but given the current p...