New Delhi, Feb. 3 -- The government has just presented the first full-year budget of its third term, marking a significant milestone in its economic agenda. This budget stands out for a deft tightrope walk, navigating the complex challenges posed by an uncertain global environment while ensuring that India's growth remains strong. It addresses the pressing need to stimulate domestic consumption through targeted incentives and sectoral support while staying committed to fiscal prudence, which has been a hallmark of this government.

The budget introduces a range of forward-looking measures, including strategic investments in infrastructure, manufacturing and social welfare programmes. These have been largely welcomed by industry leaders, e...