Rs 3 lakh crore was added to investor wealth on Tuesday and today, Dalal Street added another Rs 3 lakh crore--all this as the stock markets gave the budget two-thumbs up. A lot of this has to do with the fiscal deficit number, which the FM says she would exceed by just 100 basis points--6.9 percent against last year’s target of 6.8 percent, and that is because of robust tax collections. But experts say this is a highly conservative reading. In fact, Rakesh Jhunjhunwala believes it is “ultra conservative”. The government, however, maintains that these numbers are “realistic”.

There was no tax relief for the salaried class. There are questions about the cut in subsidies, including food subsidy and the national rural employment guarantee scheme at a time of economic distress. Has the budget done enough to boost consumption? What about the move to tax gains from virtual digital assets like cryptocurrencies? Is this move giving cryptos a backdoor entry?

In this special episode of CNBC-TV18, ‘Budget Verdict’, India’s top CEOs will quiz the architects of Budget 2022. The first post-budget dialogue between the government and the industry.

For full interview, watch accompanying video..

Also Read: Budget 2022 exclusive: FM Sitharaman backs no change in income tax rates

First Published:Feb 2, 2022 9:23 PM IST