HomeNewsBusinessMacro economic assumptions seem realistic, deviation from fiscal glide path a risk in Budget 2018: HDFC Bank
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Macro economic assumptions seem realistic, deviation from fiscal glide path a risk in Budget 2018: HDFC Bank

"Deterioration in quality of spending (increase in revenue/capex ratio) remains a concern. Deviation from the fiscal glide path is a risk and could trigger bond yields/interest rates spiral," says Abheek Barua, Chief Economist at HDFC Bank.

Moneycontrol.com
February 01, 2018 / 17:34 IST
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New Delhi: Union Finance Minister Arun Jaitley along with MoS Finance ministers Shiv Pratap Shukla, P Radhakrishnan and Economic Affairs Secretary Shaktikanta Das leaves the North Block to present the Union Budget at Parliament, in New Delhi on Thursday. Finance Secretary Hasmukh Adhia and Chief Economic Advisor Arvind Subramanian are also seen. PTI Photo by Manvender Vashist (PTI2_1_2018_000009B)
New Delhi: Union Finance Minister Arun Jaitley along with MoS Finance ministers Shiv Pratap Shukla, P Radhakrishnan and Economic Affairs Secretary Shaktikanta Das leaves the North Block to present the Union Budget at Parliament, in New Delhi on Thursday. Finance Secretary Hasmukh Adhia and Chief Economic Advisor Arvind Subramanian are also seen. PTI Photo by Manvender Vashist (PTI2_1_2018_000009B)

Abheek Barua, Chief Economist, HDFC Bank

The macroeconomic assumptions in the Budget seem realistic although there could be overrun on the expenditure side. Quantum of allocations to certain key sectors like rural development seem very low.

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Deterioration in quality of spending (increase in revenue/capex ratio) remains a concern. Deviation from the fiscal glide path is a risk and could trigger bond yields/interest rates spiral.

first published: Feb 1, 2018 05:31 pm

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