The budget unveiled its biggest surprise towards the end — an income tax exemption for income up to Rs 12 lakh per annum. A significant move like this is expected to create an essential boost in consumption. To reiterate my thoughts on last year’s interim budget, ring-fencing India’s consumptionled growth story must be a priority, as our household consumption spending and GDP growth have historically moved in tandem.Thus, increasing household disposable income will stimulate broad-based consumption growth, especially in the sluggish retail…
