Finance Minister P. Chidambaram today presented the Interim Budget for 2014-15 in Lok Sabha. Shachindra Nath, Group CEO, Religare Enterprises has shared his valuable thought on that.
"Union Budget 2014/15 was expected to spring no surprises, stick to fiscal discipline as a theme, as macro fundamentals turn around in a gradual recovery. To that extent, the Budget has delivered on the whole, with a 4.6 per cent (2013/14) fiscal deficit improving to 4.1 per cent (2014/15), albeit on optimistic tax revenue estimates. Overall, subsidy burden has remained largely flat vis-Ã -vis the revised figures for 2013/14 of Rs 2.45 trillion, with food subsidy rising sharply to Rs 1.15 trillion as the food security bill comes into effect. Fertiliser and oil, the other two major heads, remain largely in control, even as they subsume deferrals. Barring surprises in the fine print, we do not expect the market to react negatively, given the expected trajectory of fiscal consolidation seems to be on track."
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