Budget 2024 - A Blueprint For Fiscal Consolidation And Economic Growth: CareEdge Analysis

CareEdge Research Report

The honorable Finance Minister Nirmala Sitharaman, in her seventh consecutive budget presentation, outlined PM Modi-led government's clear objectives for its third straight term: a roadmap for fiscal consolidation and a framework for medium-term economic interventions, focusing on employment, skilling, MSMEs, and the middle class. 

This budget, the first since the BJP-led NDA was re-elected in June, highlights a commitment to fiscal consolidation with a fiscal deficit target of 4.9% for 2024-25 and a projected decrease in the debt-to-GDP ratio.

It balances fiscal discipline with increased spending on essential developmental expenditures, addresses inequality through tax reforms, and emphasizes agriculture, infrastructure, and job creation.

Special attention is given to women-led development and support for MSMEs. 

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