Budget 2023-24 : Much beyond expectations, a win-win for households and corporates Says Geojit Financial Services
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
The market had mixed expectations on the budget, presuming it to be populist and low elbowroom for the government ahead of the slowing economy, high inflation, and interest rates. However, the government has taken it to a new zone with a welltuned perfection between growth and stability. The rise in capital expenditure by 33% to Rs10 lac cr is the shot in the arm, heading a multiplier effect on the economy. While a plethora of schemes and tax breaks for the rural economy and taxpayers will boost India's consumption growth, It is a 10 on 10 budget
Enlarged spending and rise in disposable income below the pyramid is the crux of the budget…
High Govt. capex
A 33% rise in government capex is much above than expected 15 to 20% by the market. Lead the domestic economy to remain robust.
Focus on Agri
Large no. of schemes and initiatives on agriculture sector is attractive for the rural market.
Tax benefit
Tax benefit exploded to everyone, which will increase the household spending.
No change in LTCG
Stock market was concerned about rationalization in LTCG, no change is a big relief.
Infra & Energy
Big winners are infra and green energy
MSME
Additional credit guarantee and relief measures for the economy’s growth engine, MSME.
Well Planned Revenue and Expenditure
The forecast of the government’s receipts and expenditures is nimble to be accepted. Net tax receipts are estimated to grow by 11.7% down from 15.6% in FY23, in-line with moderation in GDP growth.
The efficiency of government outplay is improving, led by prudent expenditure, moderation in subsidies, and an increase in tax revenue. Despite strong rise in expenditure plan, the net borrowing is forecasted to increase by only 2% in FY24. The subsidies are reduced by 28% for FY24.
To Read Complete Report & Disclaimer Click Here
For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer
SEBI Registration Number: INH200000345
Above views are of the author and not of the website kindly read disclaimer
