Prioritising stability over growth

The backdrop of the Budget augurs well for the government, but a closer look calls for a cautious approach

Amidst the uncertain global environment and gloomy economic outlook, many credible international institutions have repeatedly projected India as a sweet spot and, so to say, a safe harbour for investments.

The signs of peak inflation ebbing, the National Statistical Office  (NSO) forecast of a rather respectable 7 per cent gross domestic product growth for 2022-23, and relatively mild new Covid variant augur well as the backdrop for the finance minister to present the Budget on February 1. This feel-good factor helps given that it would be the last full-year Budget before the 2024 Lok Sabha elections. So far so