Govt. to adhere to FRBM path, says Chand
The major takeaway from the Budget is that the government will be adhering to the fiscal responsibility and budget management (FRBM) path, which will ensure that the fiscal deficit ratio reaches 4.5% next year and moves further downwards towards the 3% mark subsequently, Debadatta Chand, Managing Director & CEO, Bank of Baroda, said in his comment.
From the market perspective this means an unchanged borrowing programme which will assuage bond yields, he said.
“We can see a distinct growth focus in this Budget as the emphasis is on job creation and investment with the MSMEs having a vital role to play,” he said.
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