Pre-Budget Survey 2023

Union Budget 2023

Amidst a possible global recession and international political instability, the economy has stood resilient and is well on its way to a growth rate of 7%. To support India’s US$5 trillion economy ambition, the industry holds high expectations from the Budget 2023-24 especially promoting ease of doing business through tax reforms and continued CAPEX with a focus on infrastructure.

Key announcements in Budget FY’23 expected to further strengthen the pace of growth:

Focus on Infrastructure (Physical and Digital) – The Government has been aggressive about infrastructure development in the last few years, and this momentum is expected to continue. This will reap long-lasting benefits to the nation in the form of industrial growth, more employment, global supply chain integration, and investment flows, thereby fueling economic growth and realising the US$5 trillion economy ambition. To support the infrastructure development, measures such as encouraging private partnerships in large projects – including physical and digital - and incentivising private players or mitigating risks for them would prove most useful. 

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