The recent union budget has brought about a new wave of fiscal policies, aiming to stimulate economic growth. With a focus on direct taxation reforms, the government seeks to increase revenue and reduce fiscal deficit. According to experts, this move is expected to have a positive impact on the economy, with predicted growth rates of 7-8% in the next quarter. However, some critics argue that the reforms do not go far enough, and more needs to be done to address the issue of indirect taxation.
As the budget is implemented, it remains to be seen how these policies will shape the country’s fiscal landscape. With a total allocation of $1.2 trillion, the budget is a significant step towards achieving fiscal stability. By 2025, the government aims to reduce the fiscal deficit to 5% of the GDP.