This is the first 'normal' budget since 2020 but challenges are still galore. Tight monetary policies, an impending recession, Russia-Ukraine, and China-US. But India has been an outlier, can it continue to shine?
Finance Minister Nirmala Sitharaman has been giving the right type of bytes to the media prior to the Budget, talking about boosting capital expenditure, growth and creating the template for the “next 25 years”. But the Union Budget for FY24 is a unique one and Sitharaman has more to handle than just the routine.
It is the first normal budget after the Covid-19 pandemic and also the first in the midst of rising fears of a global recession as central banks have aggressively tightened monetary policy and increased interest rates to battle stubborn inflation and slow down growth.
(This story appears in the 27 January, 2023 issue of Forbes India. To visit our Archives, click here.)