Apple iPhone 13 joins the league of latest iPhones to be produced in the Foxconn Chennai unit in India. This is partly thanks to Government of India’s Production Linked Incentive scheme.
Pragmatic in approach, nuanced by construction
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Against the backdrop of sharp deceleration in growth in the wake of an unprecedented global health crisis, the FY22 Budget has emphatically provided a much needed thrust for healthcare spending, job creation, and overall economic recovery, all within the ambit of deft fiscal rectitude. The announcements made by the Finance Minister should be seen in conjunction with government’s previous announcements under various fiscal packages encompassing Pradhan Mantri Garib Kalyan Yogana and Atma Nirbhar Bharat Abhiyan.
From an objective standpoint, in a year of difficult fiscal computations, the Finance Minister has walked a tightrope to balance the stretched revenue receipts with necessary expenditure support. At 6.8 per cent of GDP, FY22 fiscal deficit is a realistic display of support to reinvigorate India’s Real GDP growth, which is projected at 11 per cent, albeit supported by low base.