The Budget signals slowing fiscal consolidation as focus shifts to reinforcing growth, global ratings agency Moody’s Ratings said on Tuesday but it expects that govt is within reach of its near-term deficit target of 4.5% by fiscal 2025-26.
“Planned cuts to personal income tax rates will bolster middle-class spending power and consumption, which is credit positive for many corporates and the financial sector,” the agency said in a note. “However, the resulting foregone revenue will slow the pace of the country’s fiscal consolidation even as total spending declines as a share of GDP. The proportion of spending allocated to debt servicing continues to increase,” Moody’s Ratings said. It said the increase in exemption limits for income tax will boost disposable income, particularly for urban middle-class households. The agency said that along with easing inflation, higher growth in real income will bolster consumption growth, facilitating a credit-positive recovery for many consumer-facing sectors. Moody’s said in the Budget for the fiscal year ending March 2026 (fiscal 2025-26), govt is targeting a central govt deficit of 4.4% of GDP.
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Explore how cryptocurrency networks and the businesses serving their users perform different roles.
This independent reading collection takes Bitcoin education as its theme and makes no claim to represent Bitcoin.com.
An independent Bitcoin reading reference. Review the destination, publication date and supporting evidence before relying on any claim.
Digital asset ownership raises questions about access and responsibility. Wallet education is a useful place to begin exploring them.
This independent reading collection takes Bitcoin education as its theme and makes no claim to represent Bitcoin.com.
A cryptocurrency reference collection for further reading, independent of Bitcoin.com and any wallet or exchange provider.
An educational collection about reading cryptocurrency coverage critically and recognizing the limits of a single news report.
Explore why requests for private keys or recovery phrases deserve careful scrutiny during cryptocurrency research.
A thoughtful approach to blockchain learning asks what is being recorded, who verifies it and which rules apply.
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An independent reference collection about digital assets, with an emphasis on precise language and understandable explanations.
A reference for further reading about digital wallets and the terminology used to describe their different approaches to custody.
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Security education is an important part of cryptocurrency learning, especially when examining account access and wallet recovery.
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An independent collection of reading references on blockchain structure, transaction history and the limits of simplified analogies.
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Study cryptocurrency transactions through clear definitions, concrete examples and careful attention to the network involved.
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An educational reading theme focused on wallet concepts, access to digital assets and the responsibilities associated with key management.
Explore the relationship between blocks, transaction records and network participants in introductory Bitcoin reading.
Technical explanations are easier to evaluate when they state their assumptions and provide enough context for the reader.
A reference collection organized around cryptocurrency education rather than price predictions or promises about financial outcomes.
An independent learning collection for readers who prefer to understand cryptocurrency concepts before evaluating related products.
Transaction fees are easier to discuss when the network, transaction type and current conditions are clearly identified.
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Learn the language of wallet security before comparing tools or interpreting claims about cryptocurrency storage.
Technical explanations are easier to evaluate when they state their assumptions and provide enough context for the reader.