Budget embedded with strong sense of fiscal discipline, aversion to profligacy & bankruptcy: Anand Mahindra

The Union Budget 2023-24 comes embedded with a strong sense of fiscal discipline and an aversion to profligacy and bankruptcy, noted industrialist Anand Mahindra said on Thursday.

Taking to Twitter to share his views on the Budget, which was presented by finance minister Nirmala Sitharaman on Wednesday, Mahindra Group Chairman Anand Mahindra said: "First, the context is that India's the only major economy in good shape & the budget's task was to preserve that status. So I was gratified to see the higher capex. That's all about investing for higher growth."

He lauded the finance ministry for maintaining discipline and not giving up to profligacy.

"The DNA of our finance ministry has embedded in it a strong sense of fiscal discipline & an aversion to profligacy & bankruptcy. (Unlike a rather fragile neighbour of ours) This budget lived up to that conservative tradition," Mahindra said.
In line with conservatism, it was good to see the country back on a trajectory towards a lower fiscal deficit, he added.

"It will be a stretch to achieve, but I believe the Govt. can speed up disinvestment in order to provide the necessary resources," Mahindra said.

Finance minister Nirmala Sitharaman on Wednesday unveiled tax rebates and saving plans to woo the middle class, women and pensioners, and announced massive spending on housing and infrastructure as she walked the tightrope between staying fiscally prudent and meeting public expectations.