A round-up of the biggest articles from newspapers.
#1. Budget strikes fine balance between boosting growth and fiscal prudence
Finance minister Nirmala Sitharaman has delivered an expansive budget that tries to strike a balance between prioritizing growth and fiscal prudence. In the last full budget before the 2024 general elections, the finance minister tried to address the expectations of large sections of society, including the middle class, small businesses, farmers, women, and wealthy individuals, offering sops and new schemes. Sitharaman reiterated the government’s intention to keep the fiscal deficit below 4.5 per cent of GDP by 2025-26. It also said the central government will spend Rs 10 lakh crore in capital spending, a 33 per cent increase over last year and fourfold since 2017-18
Why it’s important: The budget has stuck to the fiscal consolidation path by aiming to contain the fiscal deficit to 5.9 per cent of GDP in 2023-24. The massive increase in capital expenditure will likely have a multiplier effect on the economy and hopefully crowd in private investments.
#2. Adani Enterprises scarps Rs 20,000 crore FPO amid plunging stock value
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