Economists Laud Budget 2024-25 for Employment Focus and Fiscal Prudence

Economists praised Finance Minister Nirmala Sitharaman's Budget 2024-25 for its focus on employment generation, inflation management, and fiscal prudence. Former NITI Aayog vice-chairman Rajiv Kumar emphasized the importance of employment and skill development, while other experts highlighted the budget’s significance in promoting infrastructure, innovation, and state-level autonomy in reforms.

Economists praised Finance Minister Nirmala Sitharaman's Budget 2024-25, highlighting its focus on employment generation, inflation management, and fiscal prudence. Former NITI Aayog vice-chairman Rajiv Kumar commended the emphasis on employment and skill development, a critical area for the government.

Kumar also welcomed the reduction in customs duty on gold imports and voiced concerns over the proposed hike in long-term capital gains tax. He pointed out the potential negative impact on household savings directed to financial instruments.

NIPFP Professor Pinaki Chakraborty emphasized the need for ongoing fiscal prudence and called the proposed Income Tax Act review a significant step. Multiple experts noted the budget's balanced approach to infrastructure spending, innovation, and job creation, which they believe will boost the economy and private sector investment.