Budget 2024: Prioritising inclusivity and fiscal prudence
The HinduThere was a lot of anticipation before this Budget. As the first major public policy announcement of the new government, it was expected that the Budget would lay down a plan of action for the following five years of the government’s approach towards the larger national vision of Viksit Bharat@2047. With the nine priority areas that followed, she articulated the economic policy framework through which the government wishes to bring in the transformation that would accelerate the journey towards Viksit Bharat@2047. An increase in female labour force participation rate can be an additional lever for our country’s growth, and FICCI had suggested strengthening of the care economy ecosystem in the country in its economic agenda for the new government. By announcing a new credit guarantee scheme for MSMEs in the manufacturing sector, guiding public sector banks to develop internal assessment models for credit evaluation of MSMEs basis their digital footprints, and having a mechanism in place that would ensure flow of credit to MSMEs even during periods of stress will provide a lot of comfort to MSME units.