The SBI Chairman, O.P. Bhatt, said the Union Budget has been framed in the backdrop of recessionary tendencies in the global economy and slowing down of growth within the country.
This Budget can be considered as a fourth stimulus package over and above the three packages announced earlier (amounting to 3.5 per cent of gross domestic product) to revive the economy to the trajectory of high growth path. The Budget provides a major thrust on improving physical and social infrastructure by significantly enhancing outlays under various flagship programmes.
FBT is now employees' burden
It provides more income in the hands of people, which will help in boosting domestic demand. The Budget also hints at disinvestments of PSUs in due course while retaining the public sector character.
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Overall, a growth-oriented Budget though the major concern remains for moving back to fiscal consolidation at the earliest.
