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The budget simplifies tax collection with revised Tax Collected at Source (TCS) rates, significantly benefiting overseas travelers, students, and those seeking medical treatment abroad. Changes include a reduced 2% TCS on education, medical, and tour packages under 10 lakh, easing upfront costs.
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A new partial credit guarantee fund will support private developers. This will help lenders by reducing risks. Investments will flow into long-gestation and urban infrastructure projects. Finance Minister Nirmala Sitharaman stated the fund aims to boost private sector confidence. This initiative will lower capital costs, making public services more affordable.
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Government borrowing is increasingly financing capital expenditure, boosting economic growth potential as effective capital spending surpasses the fiscal deficit. Conservative tax revenue growth, alongside non-tax receipts and asset sales, provides a cushion. While revenue spending is managed, a slight increase in the budget size is observed, with a focus on easing the debt burden towards targets.
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News and Media
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