Road map for India as an economic superpower

This Budget will also continue the weighty task of sustaining social welfare schemes

Shanti Ekambaram

The Union Budget 2023 is far more significant for the current situation that India and the world find themselves in; a weakening global economy, lingering Covid troubles, unabated Russia-Ukraine conflict and a sticky headline inflation that is impacting growth plans. For me, the Budget is an opportunity to drive economic growth, target maintaining good fiscal health, position India as an attractive investment destination, spur private and foreign investment, streamline and align taxes, and ensure a better investment climate. This Budget will also continue the weighty task of sustaining social welfare schemes.
Focus on reining in fiscal deficit: According to current data, tax collections, particularly GST, both year-on-year as well as estimates, remain buoyant, hence we expect the government to meet its fiscal deficit target of 6.4 per cent. Moreover, the Union government has not fully spent the capital expenditure that it had budget
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of or the Business Standard newspaper

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First Published: Jan 30 2023 | 11:55 PM IST

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