Anticipation builds around India’s Union Budget, with specialists forecasting emphasis on fiscal robustness, steady macroeconomics, and tech sector boosts. ORF America’s Anit Mukherjee predicts a no-surprises document that perpetuates successful policies at the government’s halfway mark.
Speaking candidly, Mukherjee noted recent rural employment reforms as harbingers of incremental change. The MGNREGA successor prioritizes job creation and livelihoods over handouts, adapting to a dynamic labor landscape after two decades.
‘Reforms modernize data and empower states while safeguarding core goals like seasonal employment guarantees,’ he said, vital against climate uncertainties. Fiscal prospects are buoyant, with GST adjustments not derailing income growth.
Trade remains anchored, and Mukherjee recommends broadening horizons to novel markets for current account gains. High-tech investments in competitive areas like AI demand priority to sustain India’s global positioning.
Immediate ripples from US policies are managed through domestic interventions. An FTA with America holds transformative potential for market sentiment. In essence, the budget will anchor macroeconomic priorities, fostering enduring economic vitality through prudent, forward-looking measures.