Finance Secretary Tuhin Kant Pandey said on Monday that the FY 2025-26 general budget has given adequate non-curiosity incentive to the economy, which will continuously strengthen the growth. He said that there has been a balance between increase in budget and inflation. This was done keeping in mind the exchange rates, comprehensive economic stability and controlling fiscal consolidation.
After the budget, Pandey said in the dialogue session of Udyog Mandal FICCI, “We also have enough encouragement in the economy. This is an incentive given without increasing inflation, which will promote savings, investment and growth. This will promote frequent growth. The demand will also work on the side and the supply side. ”
Union Finance Minister Nirmala Sitharaman has increased the income tax exemption limit to Rs 12 lakh in the budget of FY 2025-26. The move aims to pay more funds in the hands of taxpayers for savings, investment or consumption. In the budget, the fiscal deficit target for FY 2025-26 is placed at 4.4 percent of the GDP (GDP) and it is estimated to be 4.8 percent in FY 2024-25.
Pandey said, “We have to consolidate fiscal in the budget, because we do not want to become inflation.” If we try to encourage the economy at a time when we should not do so, it can increase inflation. ”He said that this is why this budget balances all these imperatives.