Union Budget 2023: Centre Likely To Focus On Deficit Reduction
NDTV
In pulling back the deficit, Finance Minister Nirmala Sitharaman's budget for the financial year beginning April 1 will also help hold inflation below the top of the central bank's target range, 6%.
The Indian government will present a budget on Feb. 1 that will likely put deficit reduction ahead of vote-winning spending, even as Prime Minister Narendra Modi looks towards seeking a rare third term of office in 2024.
Officials and economists said the large size of recent deficits and a need to gain investor confidence was forcing fiscal caution on the government, overriding the contrary priority of spending to support a weakening economy.
In pulling back the deficit, Finance Minister Nirmala Sitharaman's budget for the financial year beginning April 1 will also help hold inflation below the top of the central bank's target range, 6%.
As India faces weakening demand for its exports from the slowing economies of trading partners, its own growth is still recovering from the damage of pandemic controls.
