“If you look at the way the economy is unfolding, largely things are happening in the urban areas where normal activity has resumed in the period after the COVID pandemic, but there's a fair amount of stress in rural areas which is reflected in the consumption demand. The budget is a sign of a government very comfortable in the prospects of its re-election. They are far more confident of their re-election this time than the previous interim budget in 2019, so played their cards accordingly on the budget … and did not go against convention.”
01 Feb 2024
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