Union Budget should focus on fiscal prudence, tax restructuring, agriculture reforms: SBI Research
The HinduAs the Central government prepares for the Union Budget presentation on July 23, a research report by the State Bank of India has highlighted crucial areas that need attention to drive sustainable economic growth and development in the country. “Government should focus on adherence to fiscal prudence and continue on the fiscal consolidation path, but at the same time refrain from obsessing too much over the fiscal stance,” the report stated. The report also noted that the Minimum Support Price has become politicised and suggested exploring alternatives as the current MSP policy reduces trade and export competitiveness. The report also noted that by incorporating these suggestions into the upcoming Budget, the Government can lay a strong foundation for sustainable growth, promote financial inclusion, and drive economic resilience in the post-pandemic era.
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