Our take on the Union Budget 2023-24 is that it is a smart budget that does not abandon the path of prudent fiscal management at the same time puts money in the urban middle class to boost near term domestic demand against weak global outlook. Higher Infrastructure allocation and Government borrowing will make sure India continues to see investments coming in. Jobs in the near term will be largely coming from construction, which will cater to a large populace, albeit semi-skilled and unskilled. Other initiatives will take time for results to show and are steps aligned to the government's vision for Amrit Kaal. Finally, the devil always lies in the details of allocation and more importantly utilization to convert intent to reality, hence we will have to wait to see what gets done this year.
Primus Partners' detailed analysis of Union Budget 2023 includes a summary takeaway from Mr. Atanu Chakraborty, Chairman HDFC and Ex Secretary, DEA, GoI and expert takes from over 40 Industry leaders, Civil Servants, and Members of Parliament. Read Now!