‘Excellent Budget for Difficult Time’, ‘A 10 on 10 Budget’: Budget 2023 Reactions

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‘Excellent Budget for Difficult Time’, ‘A 10 on 10 Budget’: Budget 2023 Reactions
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Finance Minister Nirmala Sitharaman presented her fifth consecutive budget session on Wednesday, which was around a 1.5-hour-long speech, in which she covered tweaks in income tax slabs, custom duties on different items, introduced a National Digital Library for children and adolescents and increased the capital outlay for different sectors including the Indian Railways, among others.

In a note provided to Investing.com, Dr VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, termed the Modi Government’s last full-year budget as an ‘excellent Budget for the difficult time’, stating that the Budget 2023 will make India a brighter spot in the dark global horizon. 

Vinod Nair, Head of Research at Geojit Financial Services said that the government has taken the Budget to a ‘new zone’, with a well-tuned perfection between growth and stability.

“The Union Budget was clearly growth focused along with being pragmatic, considering that the Government had a tightrope walk between managing the fiscal deficit and providing some relief to taxpayers on the personal income tax front,” said Devang Mehta, Head- Equity Advisory, Centrum Wealth.

The capital expenditure for FY24 has risen by a massive 33% to Rs 10 lakh crore, which will act as a multiplier effect on the country’s economy. This is also a big push to the infrastructure, employment and green growth sectors.

Further, a high amount of schemes and tax benefits to the rural economy and taxpayers will enhance consumption growth in India, said Nair.

“Much beyond expectations, a win-win for households and corporates. It is a 10 on 10 budget,” he added.

Vijayakumar stated that the market is celebrating the absence of the feared hike in LTCG tax on equities while adding that tax relief to the middle class is also being welcomed.

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  • Rajiv Jain @Rajiv Jain
    Modi hai toh mumkin hai
    Like 2
    • Suni Sargur @Suni Sargur
      Why confuse the tax payer is hard to understand. Tricks played on there middle class with old and new regime.  @Rajiv Jain
      Like 0

      • Comment Guidelines

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  • Maddula Bhanu @Maddula Bhanu
    💝💝💝💝💝Yes Really Good Budget ...For Corporates and Poor , nothing good for Middle class 💯
    Like 1
    • Anirudh Sindol @Anirudh Sindol
      Doesn't the tax rebate and new tax slabs apply to middle class section?
      Like 1

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  • Mohit Kashyap @Mohit Kashyap
    The BJP government has presented an exceptional annual finance budget that has taken care of the needs of people from all walks of life. Its policies have been designed to create an environment that will help strengthen the economy, encourage investment, and generate more employment opportunities. This budget is indeed a step towards a more prosperous India !
    Like 1
  • My First Gift @My First Gift
    I agree
    Like 0
  • karthik singhvi @karthik singhvi
    I don't agree its excellent
    Like 1

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