Budget Shapes India’s Economic Resilience, Growth Potential: Report

New Delhi: The steps articulated in the Union Budget are crucial in shaping India’s economic resilience and growth potential in the medium to long term, according to a report on Monday.

The Union Budget 2025-26 displays a balanced approach to sustaining economic growth while reinforcing fiscal prudence.

Finance Minister Nirmala Sitharaman has chosen to stimulate consumption while keeping the focus intact on capex and taking rapid strides towards fiscal consolidation, according to the report by CareEdge Ratings.

“Measures to improve the ease of doing business through deregulation, supporting MSMEs, investments, and exports outline a clear strategy for achieving Viksit Bharat in 2047,” CareEdge Managing Director and Group CEO Mehul Pandya said.

Key tax reforms, including the rationalisation of personal income tax slabs, and the TDS and TCS provisions, aim to simplify compliance and enhance disposable income, fostering consumer confidence.

“No personal income tax for income up to Rs12 lakhs should provide a big fillip to consumer sentiments and spending,” he mentioned.