Gujarat. 01st February 2025: Further to today’s Union Budget, please find below the quote by Upasna Bhardwaj, Chief Economist, Kotak Mahindra Bank, Shanti Ekambaram , Deputy Managing Director, Kotak Mahindra Bank & -Manish Kothari, Head – Commercial Banking, Kotak Mahindra Bank for your perusal.
- Upasna Bhardwaj, Chief Economist, Kotak Mahindra Bank said, “The Union Budget has struck the right chord balancing the fiscal prudence with supporting the slowdown in private demand. The re-emphasis on fiscal consolidation roadmap over the next few years too remains comforting for the markets.”
- Upasna Bhardwaj, Chief Economist, Kotak Mahindra Bank
2. “The Union Budget strikes a balance between fiscal prudence and growth, with a focus on boosting middle-class consumption, savings, and investments through direct tax measures. The commitment to higher capital expenditure at Rs 11 lakh crore, alongside a reduction in fiscal deficit to 4.4%, is a welcome move. Additionally, the budget’s emphasis and measures on the ‘engines of growth’ MSMEs, Agriculture, Investment, Exports and ease of doing business is crucial to stimulate private sector investments. While ‘accelerating growth’ remains a key focus, the balance between fiscal discipline and growth measures will be critical for sustaining India’s economic momentum.”
- Shanti Ekambaram , Deputy Managing Director, Kotak Mahindra Bank
3. “Budget 2025: Firmly continuing the course, with a surprise twist!
The Union Budget 2025 is quite balanced and directionally positive for the medium and long-term and will consolidate the growth pillars. While the core drivers remain the same as last budget; Agriculture, MSMEs, Investments and Exports, the sustained focus on Financial Inclusion (both, urban and rural), Grow in India, Make in India, ease of compliance and ease of doing business clearly support the vision to create a Viksit Bharat. The fiscal prudence, pegging the fiscal deficit for FY26 at 4.4%, lower than 4.8% for FY25 without dropping the ball on capex (with a Rs 11.21 lakh crore outlay – up 10% YoY), is equally impressive. But the big twist or the “tadka” of Rs 1 lakh cr – through the income tax rationalisation – will certainly provide a huge fillip to the lagging private consumption.”
- Manish Kothari, Head – Commercial Banking, Kotak Mahindra Bank
