Summary: The annual Economic Survey released Tuesday was positive about the ‘India story’. It projected the economy to grow 6.5 per cent in 2023-24. The Survey also said that a strong domestic economy will provide some immunity from the global slowdown. So what does the Economic Survey tell us about growth? But the good projections of the Economic Survey failed to cheer up the Indian financial markets as benchmark indices ended flat on Tuesday. All eyes were on Adani Group’s FPO, which was fully subscribed on Tuesday -- thanks to non-institutional investors. But, it seems, trouble for the conglomerate is far from over. The rout which started with the release of a scathing report by Hindenburg Research last week has shaved off 16 per cent of its market value. According to reports, banks are now wary of giving fresh loans to the company. So what lessons does it offer to regulators? What can they do to avoid a recurrence of such a fiasco? The Union Budget is being presented at a time when the global economy is slowing. So, will the government bite the bullet and stick to fiscal prudence? Which sectors are likely to be accorded priority? Puneet Wadhwa spoke to leading market experts and economists to understand what they expect from the Finance Minister this time. This Budget will give an account of where the money is expected to come from and where the government plans to spend it. But the annual financial statement, as the Budget is called, is also full of complex terms. Let's understand them better in this episode of the podcast.
