Government debt rises with the PD and the excess of the real interest rate (r) over the growth rate (g). [...] Vision and implementation The budget continues with the long-term vision of enabling India’s development with strategic focus on many of the elements identified above. [...] It exceeded income tax at the start of the period but was below it at the end of the period. [...] The capital gains tax changes are in the right direction of more uniformity and simplicity to reduce arbitrage across assets and loopholes for rich, thus increasing the tax they pay. [...] The beginning made in incentivizing better delivery from states and making space for more dialogue needs to be carried forward vigorously, as does the collaboration with the private sector for employment and training.
- Pages
- 17
- Published in
- India
Table of Contents
- Ashima Goyal 1
- Indira Gandhi Institute of Development Research Mumbai 1
- September 2024 1
- Ashima Goyal 2
- Abstract 3
- Key words 3
- JEL Classification nos. 3
- Acknowledgement 3
- 1. Introduction 4
- 2. Escaping the past 6
- Figure 1 Deficits of the central government as a to GDP 6
- Table 1 Average deficit ratios 7
- Figure 2 Net lendingborrowing as a to GDP 8
- Figure 3 The gap between real interest and growth rates 8
- 3. Strategy 9
- 4. Vision and implementation 11
- Table 2 Promises made versus promises kept 12
- 2022-23 2023-24 2024-25 12
- Table 3 Tax rates across countries in 2024 Countries Personal Income Tax Rate PIT Corporate Income Tax CIT 14
- 5. Conclusion 16
- References 16
- The Hindu Business line. 16
- Economic and Political Weekly 16
- Economic Political Weekly 17
- Journal of Quantitative Economics 17
- Ministry of Finance 17
- Finances of Panchayati Raj institutions. 17
