Bob Reports Expected Emphasis On Fiscal Consolidation Will Boost Overall Budget Growth Business News India

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In its latest economic research report published on Friday, Bank of Baroda (BoB) said the overall budget for fiscal year 2022-23 is expected to focus on boosting growth, achieving fiscal strength and increasing consumption.

The report also said that there may be some change to tax concessions in the budget, while more allocation may be made to increase investment under production-linked incentive (PLI) schemes.

According to this report, gross borrowing will be kept in the range of Rs 12,000-13,000 crore to avoid volatility in the bond market. In this way, the fiscal deficit is expected to be between 6-6.25 percent in fiscal year 2022-23.

According to a BoB research report, with GDP increasing by 13 percent at current prices, the Center’s net income could rise by 12.2 percent and expenses by 4.5 percent. The report claimed that the expected divestment income in the next financial year could be around Rs 750 billion.

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