Budget 2013: Biz honchos react
Rupa Rege Nitsure, Chief Economist, Bank Of Baroda, Mumbai
Encouraging but challenging too is what the chief economist of Bank of Barado, Nitsure, thought of the budget.
"The finance minister has painted a very encouraging macro picture but with a 30 percent growth in planned expenditure it would be extremely challenging to contain the fiscal deficit at 4.8 percent,” she said.
"Prima-facie the budget has addressed most of the sectors under stress such as infrastructure, capital goods, housing, etcetera, but how these measures are actually implemented and the resultant outcome will depend on the evolving growth-inflation dynamics,” she added.
"The high gross borrowing and the higher spending is going to be inflationary and RBI would rather think of slowing the pace of monetary easing rather than increasing it."
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