HDFC Bank’s Chief Economist Abheek Barua Friday said the central government has tried to strike a balance between fiscal consolidation and supporting growth in the Union Budget.
“With a hike in excise duties, increasing the target fordivestments and for the dividend receipts, the government has made sure thatoverall revenue collections do not suffer. This was especially important at atime when the traction in GST and personal income tax collections remainedmuted. Now, with the downward revision in the collection target of these twocategories, the overall revenue assumptions looks much more credible andpragmatic.