ETMarkets Smart Talk: Clean Energy and Nuclear Reforms - The Budget’s big bet on sustainable growth

In an interview with ETMarkets, Ambani said: “The Budget was satisfactory and largely in line with expectations. While some may perceive slower growth in the government’s capital expenditure on roads and railways for FY26, the overall capex has been maintained at the desired levels, as a percentage of GDP and total expenditure,” Edited excerpts:

Thanks for taking the time out. The Budget 2025 – 8th Budget of Nirmala Sitharaman delivered what was needed to boost consumption, but it lagged a large capex push. What are your views on the Budget?
The Budget was satisfactory and largely in line with expectations. While some may perceive slower growth in the government’s capital expenditure on roads and railways for FY26, the overall capex has been maintained at the desired levels, as a percentage of GDP and total expenditure.

Notably, there has been a significant increase in grants-in-aid to states for the creation of capital assets, highlighting the government's focus on capex with a higher multiplier effect.

With the proposed fiscal consolidation efforts and targeting a 4.4% fiscal deficit, what does it indicate about the macroeconomic stability of India?
The Modi administration appears committed to fiscal discipline, not only by targeting a lower fiscal deficit but also by aiming to reduce government debt levels.

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