View: Ready to tap India’s deep reserves and get cracking

Finance minister Nirmala Sitharaman’s plan seems to draw heavily from India’s cricketing triumph in Australia last month. Indeed, India’s economy is poised for an encore, for it has Pujara-like stolidity, Pant’s flamboyance, Ashwin’s agility, the fearlessness of Thakur and Sundar, and Rahane’s maturity.

The budget also comes at a time when there are strong signs that the economy is ready for a V-shaped recovery. GST collections, freight movement, quarterly corporate results, indicators such as the Purchasing Managers’ Index (PMI) — and the exuberant stock market — were all chalking record highs. The finance minister’s proposals provide a strong growth stimulus led by substantially higher allocation for spending on infrastructure.