The share of interest payments to GDP was 3.6 percent, while the share of the capex outlay was 3.2 percent in FY24, according to a Crisil report, on rising interest expenses.
The assumptions made in the fiscal maths are credible and the bid to cut revenue expenditure is welcome
The nation’s smarter recovery from the pandemic but also by the improved sense of ‘political stability' has paved the way for a relatively aggressive fiscal consolidation. Very rarely one has seen an interim budget devoid of populist measures in an election year
Valuations are beginning to look reasonable and downside from current levels is limited, Sanjeev Prasad of Kotak Institutional Equities tells CNBC-TV18.
Colquhoun added the ratings agency will assess the next government's policy strategies will be important to determine the country's future sovereign ratings.
Nitin Rakesh, president, Americas - Syntel Inc says that the market is expecting measures to ensure fiscal discipline and the provision of a reform roadmap in the Budget.
CRISIL Research, India’s largest integrated and independent research house, identifies fiscal discipline, productivity improvement and petroleum pricing reforms as the three key steps to pull the Indian economy out of the high-inflation trap.
Finance Minister Pranab Mukherjee indicated that Indian government will return to fiscal discipline in the coming Budget, after following policies of stimulus and expansion in the last two years.
Japanese leaders vowed on Friday to push ahead with tax reforms needed to rein in bulging public debt, but doubts persisted over whether the government could succeed in the face of a divided parliament.