Consistency and stability to revive, sustain growth
The strategy seems to be to use reforms and the fiscal space to improve flexibility
The Union budget will aid growth and take India towards its aspirational goals even as the economic and social impact of covid has disrupted nearly all aspects of life. Real gross domestic product (GDP) growth is expected to top 9% for FY22, but there remains a key fault line in the economy in the form of widening inequality of all kinds, income, jobs, access to healthcare, and education. The budget has opted for consistency and stability while tending to growth. More importantly, it has been able to resist the temptations of populism, going after the super rich, or trying anything novel that could have rocked the boat.