India Fiscal Budget Synopsis 2022
Wednesday Feb 2, 2022

Our Finance Minister presented her 3rd Covid Budget. The first came when the slope looked slippery, the next on a slippery slope and, hopefully, this is one when we are slipping out of the covid’s hold. To set things right, she has to tackle the fiscal deficit and growing inflation, a situation facing many countries. Employment generation at one end whereas the businessperson mood needing upliftment at the other. Incentives in last 2 years have helped. Productivity Linked Incentive schemes (PLIs) got the desired attention of both domestic and international players. Actually, to her benefit, the global mood for India is up once again, some of it on account of geopolitical reasons. Important FTAs are under discussion. FDI is moving up. In this environment, the focus should be less on dramatic policy shift. It should be on infrastructure and similar spends to give impetus to growth, besides clear steps to attract foreign investors, especially in the manufacturing sector.

In this budget, I think our FM was spot on.

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