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The increased focus on rural India and commitment to rein in fiscal deficit are positive measures in the Budget, according to Vikram Hosangady, National Head of Private Equity and Head of Deal Advisory, KPMG India.
The increased focus on rural India is a great positive given that in recent quarters rural demand has fallen on continuing poor monsoons and poor agricultural yields. The commitment to keep the fiscal deficit at 3.5 per cent of FY17 GDP is a welcome step. However, the Centre’s ability to maintain this level will depend on how crude trades over the next 12 months and also how tax revenues measure up. Overall, a balanced Budget with no negative surprises, he says.
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