Big on hopes, short on ideas: On Union Budget 2022-23

Syllabus: General Studies Paper 3 Context Finance Minister Nirmala Sitharaman’s fourth successive budget, while common-sensical in its approach, is not exactly bubbling with new ideas. Highlights of the budget: The Minister acknowledges the role public capital expenditure could play in crowding-in private investment at a time when “private investments seem to require that support” and help to ‘pump-prime’ demand in the economy, the Budget outlay of ₹7.50 lakh-crore for the capital account marks 24.4% increase from the revised estimate of ₹6.03 lakh-crore for the current fiscal. The Budget speech highlights the PM Gati Shakti, a “transformative approach for economic growth and sustainable development” that is to....Read More