'Budget refrained from outright populism,' says Executive Director, DBS Group Research

'Bond borrowings will be lowered in FY25, good news for the private sector,' she said.

"Bond borrowings will be lowered in FY25, good news for the private sector. The faster pace of fiscal consolidation adds to improving macro indicators. Implications for forecasts: With a non-inflationary Budget behind them, the RBI will be focused on domestic price outlook and global developments. We raise our FY24 GDP growth forecast," she further added.