Budget 2024: NSE chief’s verdict – A confluence of vision and fiscal wisdom

Shri Ashishkumar Chauhan, the visionary orchestrator of the National Stock Exchange (NSE), delivers his appraisal of Budget 2024—a nuanced confluence of vision and fiscal wisdom. Chauhan’s pen paints a masterpiece as he awards a perfect 10/10 to the budget, applauding its unwavering commitment to policy and taxation continuity. The canvas is splashed with strokes of growth, welfarism, and fiscal restraint, creating a tapestry that promises stability in an unpredictable economic landscape.

The revised fiscal deficit for FY23-24, standing at 5.8%, is not just a number; it is a brushstroke of fiscal responsibility. The subsequent reduction to 5.1% for FY24-25 is a bold stroke, signaling the government’s commitment to prudent financial management.

Chauhan’s editorial explores the budget’s crescendo—the record-high capex outlay of Rs 11.11 lakh crore, constituting 3.4% of GDP. With a critical lens, he dissects the strategic allocation towards roads, transport, and railways, predicting a transformative impact with a 27% CAGR over the last five years. Capital expenditure takes center stage, comprising 23.3% of total expenditure—the highest in 30 years. Chauhan, in his editorial commentary, navigates through the budget’s social security framework, weaving a narrative of power, health, housing, cooking gas, and financial inclusion—a symphony that, in his opinion, resonates with vision and fiscal prudence.