The Union Budget 2024, announced by Finance Minister Smt. Nirmala Sitharaman, has drawn significant attention from Shri Ashishkumar Chauhan, MD and CEO of the National Stock Exchange (NSE). Chauhan’s analysis offers a data-driven look at the budget’s potential impact on India’s economy.
Job Creation: The budget introduces measures to stimulate job growth by integrating private and public sector efforts. Key data points include a relief on angel tax and an increase in the Mudra loan scheme limit from Rs 10 lakhs to Rs 20 lakhs per individual. These changes are designed to support an estimated 10,000 new startups, potentially creating thousands of new jobs.Women’s Workforce Participation: Chauhan highlights the budget’s focus on increasing women’s involvement in the labor market. With targeted policies, the budget aims to enhance female workforce participation by 5%, contributing to a broader economic impact.
Fiscal and Economic Metrics: The budget maintains infrastructure investment while reducing the fiscal deficit to 4.9%, down from the projected 5.1%. This fiscal discipline sets a trajectory towards a 4.5% deficit by 2025-26.Chauhan’s perfect 10/10 rating reflects confidence in the budget’s capacity to drive economic growth and innovation through these strategic investments.
