DH Poll: Economists give 3.7/5 to Budget 2020

A combination of handouts and slick political footwork, the interim Budget of 2019-20 didn’t receive a ringing endorsement from economists polled by DH.

The average of the ratings of 14 economists polled came in at 3.7 out of 5. Four economists gave it 4 out of 5 and two (including Axis Bank chief economist Saugata Bhattacharya) gave it full marks, but eight rated it 3.5 or below, with the lowest being 2.5 from Motilal Oswal’s Nikhil Gupta.

“The Budget was an effective balance of growth stimulus and distributional equity, and design of interest subventions and income support measures will increase the efficiency of government support,” said Bhattacharya.

Among the many economists contacted for the poll, some declined to respond, including two members of the erstwhile Planning Commission, who said that the Budget was a little more than an election manifesto. But Ajit Ranade, senior economist, noted that a populist Budget would give a fillip to consumption. However, the fiscal slippages, and “unrealistic projection of revenues” was a cause of major disappointment to the economists.

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DH Poll: Economists give 3.7/5 to Budget 2020


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