Budget pushes government's pro-growth agenda: Angel Broking

Union Budget 2015-16 analysis by Angel Broking:

The Union Budget for 2015-16 has set the ground for a brighter medium term outlook. The government has taken a conscious decision to revive the investment cycle by mobilising resources towards infrastructure and thereby facilitate growth across sectors.

With this objective and given the narrow fiscal space that the government will have given higher devolution of centre's revenue to the states after the 14th Finance Commission comes into effect from April 1, 2015, the government has chosen to target fiscal deficit of 3.9% in FY2016, a tad higher than expectation of 3.6 percent and committed to diverting larger funds towards investment revival. Further, the Budget has carried forward the government's thrust on simplifying the tax regime, infusing efficiency in the systems and promoting transparency and fairness in governance. Overall, we believe that the Budget FY2016 is responsible and credible in setting the government's medium term reform agenda forward apart from creating optimism for continued policy push.

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