Modi 3.0 Budget: A Catalyst for India's Economic Growth

The maiden budget of Modi 3.0 has been praised by Mukesh Aghi, president and CEO of USISPF, for its clarity and responsibility. The budget focuses on job creation, skilling, and attracting foreign direct investment. It aims to drive economic growth by reducing the budget deficit, increasing infrastructure spending, and lowering taxes for foreign companies.

The maiden budget of Modi 3.0 has been described as a well-defined and responsible budget by Mukesh Aghi, president and CEO of the US India Strategic and Partnership Forum (USISPF). Aghi stated that this budget would help attract more foreign direct investment and propel India's growth trajectory.

"It's a very well-defined budget and very responsible. We compliment the prime minister and the finance minister for delivering their budget," Aghi told PTI in an interview. He emphasized that the budget focuses on job creation, skilling, and attracting FDI.

Aghi highlighted that incentives for first-time workers and tax reductions for foreign companies are crucial elements. He also noted that the budget aims to reduce the deficit from 5.3% to 4.9%, increasing market capital availability. This comprehensive approach involves central and state governments, the Indian private sector, and foreign multinationals, all driving India's economic growth.

Infrastructure spending and defense capital expenditure have increased, enhancing private investor borrowing capabilities. "Combining these elements will drive investments, job creation, consumer demand, and exports," Aghi said. The budget aligns with Prime Minister Narendra Modi's vision of 'Viksit Bharat,' aiming to build a robust foundation for India's future growth.