Alpesh Purohit, Director, Pinnacle Credit Advisors Pvt Ltd
New Delhi (India), February 6: The union budget 2023 emphasises mainly 3 pillars – Capex Boost, Fiscal Prudence and Income tax reforms. The budget has no negative surprises on any front. The budget focuses largely towards fostering investments in the infrastructure and manufacturing sector with an aim to make India a reliable and self-reliant country, along with an utmost focus on fiscal prudence. The new income tax regime coming up and increasing the tax slabs of the individuals will leave people with more disposable income in their hands, resulting in higher consumption.
The sizable capital investment will ensure healthy economic growth and provide a cushion against the economic headwinds which may impede the advancements in the country
This budget is disposed towards inspiring the aspirations of the youth of the country with its insistence on skilling and entrepreneurship and nourishing the growth of startups and manufacturing units by providing considerable tax benefits.
The budget paves the way towards the government’s vision of expediting reforms, which will change the thinking of citizens, getting more transparency into the system, thereby strengthening the path towards making India a superpower as well as self-reliant
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