02-01-2022 05:34 PM | Source: PR Agency
With the great emphasis on the capital spending this budget has turned out to be a growth oriented budget - Mr. Sampath Reddy, Bajaj Allianz Life Insurance

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

https://t.me/InvestmentGuruIndiacom

Download Telegram App before Joining the Channel

Mr. Sampath Reddy, Chief Investment Officer, Bajaj Allianz Life Insurance

"With the great emphasis on the capital spending this budget has turned out to be a growth oriented budget, with substantial increase in capital expenditure from Rs. 5.5 Lakh Cr in FY22 to Rs 7.50 Lakh Cr. in FY23. This has been achieved while lowering the fiscal deficit target from 6.9% in FY 22 to 6.4% in FY23. Although the deficit for FY23 is a higher than the market expectations thereby causing the yields to move up, we believe this will have a positive impact on the economy and growth. While many aspects have been covered in the budget, the emphasis has been on promoting the domestic manufacturing, digital and start up economy. Production linked incentive schemes which has been a good success continued to receive more allocations, and MSME segment continues to get fillip with the extension of ECLGS scheme for one more year. Introduction of digital rupee, and taxation of virtual assets will help channelize the domestic savings for productive use."

 

Above views are of the author and not of the website kindly read disclaimer