Export focus in the govt's growth agenda

From a competitiveness perspective the RBI may choose not to let the currency gain too much

In a positive surprise, Union Budget FY2020 committed on its path of fiscal prudence, lowering its budgeted fiscal deficit to 3.3 per cent versus 3.4 per cent of gross domestic product (GDP) budgeted in the interim Budget. The markets were expecting a breach to the tune of approximately 3.6 per cent given the headwinds from both domestic and global growth on the one hand, and expectations of a counter cyclical fiscal policy to stimulate growth, on the other. However, the Budget showcased the underlying ideology of sticking to the path of fiscal prudence to avoid crowding out private investment, reflected