Union Budget Aims for Viksit Bharat by 2047: NSE Chief
Click to start listening
Synopsis
The NSE CEO lauds the Union Budget for promoting growth through increased investments and tax relief for the middle class, aiming for a Viksit Bharat by 2047.
Key Takeaways
- NSE CEO praises the Union Budget
- Focus on growth via investment and consumption
- Increased infrastructure spending to Rs 11.2 lakh crore
- Fiscal deficit projected at 4.4% of GDP
- Kisan credit card limit raised for farmers
New Delhi, Feb 1 (NationPress) Ashishkumar Chauhan, Managing Director and CEO of NSE, commended the Union Budget on Friday for its emphasis on stimulating growth by enhancing investments and boosting the financial capacity of the middle class through an increased income tax exemption threshold.
In a conversation with IANS, Chauhan stated, “This budget effectively addresses consumption, investment, and social welfare while maintaining fiscal discipline. The fiscal deficit for FY26 is projected at 4.4% of GDP, indicating a declining trend in debt-to-GDP ratios.”
Chauhan asserted that the Budget positions India favorably and will significantly contribute to realizing the vision of 'Viksit Bharat' by 2047.
He noted that Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, has successfully balanced fiscal deficit management with tax relief for the middle class, thereby enhancing their spending capacity. The infrastructure budget has been increased to Rs 11.2 lakh crore for FY26, up from Rs 10.2 lakh crore previously.
“This balancing act by the Finance Minister will elevate the nation’s growth rate, increase corporate incomes, and enhance consumption as citizens have more disposable income,” he remarked.
Investment in infrastructure is expected to benefit sectors such as steel and cement, create jobs in construction, and lead to higher consumption, positively impacting companies producing televisions, refrigerators, automobiles, toothpaste, and soaps, which will bring optimism to the stock markets, he explained while discussing potential sector advantages from the Budget.
He mentioned that as the details of the Budget become widely known, market enthusiasm is likely to rise.
Chauhan emphasized that the growth-oriented strategies in the Budget are complemented by ongoing support for social welfare initiatives, which include efforts to provide quality education, affordable healthcare, skill development opportunities, and increased participation of women in the workforce.
He added, “The new geopolitical dynamics, with the U.S. imposing import tariffs on Mexico, China, and Canada, may enable India to assume a larger role, and I am optimistic that we will surpass the projected growth rates of 6.4-6.8% for the upcoming year.”
Chauhan noted that the goal of becoming globally competitive is evident in the consolidation and rationalization of tariffs, which will likely enhance the competitiveness of Indian exports.
Discussing Prime Minister Narendra Modi's description of the budget as a GYAN Budget—focused on the Garib, Yuva, Annadata, and Nari—Chauhan affirmed that this Budget, like its predecessors, is pro-growth and also caters to specific interest groups, including MSMEs.
He pointed out that the limit for Kisan credit cards has been raised from Rs 3 lakh to Rs 5 lakh, which will alleviate farmers' dependence on private lenders, providing them with much-needed relief.
