Sandeep Nayak, Executive Director & CEO of Centrum Broking (Retail), has commended the government’s fiscal strategy in Budget 2024, citing a well-calibrated blend of welfare spending, capital expenditure, and fiscal discipline.
“The triad of welfare spends, capital expenditure, and fiscal discipline has been beautifully balanced by the Government in this budget,” remarked Mr. Nayak. He highlighted substantial allocations towards women-led development, the MSME sector, and agriculture, reflecting a comprehensive approach to inclusive growth.
Mr. Nayak praised the government’s efforts in augmenting welfare spending while maintaining a focused thrust on capital expenditure. He noted the significance of containing the fiscal deficit at 4.9% of GDP, describing it as a crucial factor in sustaining economic stability and growth momentum.
However, Mr. Nayak expressed reservations about certain aspects of the budget, particularly the increase in capital gains tax and securities transaction tax, which he believes could potentially dampen investor sentiment and affect capital market dynamics.
The CEO’s perspectives from Centrum Broking provide valuable insights into the financial sector’s response to Budget 2024, highlighting both its strengths and areas of concern.
