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Below is Post Budget Comment By Suman Bannerjee, CIO, Hedonova

Budget 2023 is a multi-dimensional budget offering a consumption boost and capital gains tax status quo. The budget focuses on reviving domestic demand and public investments, creating jobs, increasing infrastructure spending, reducing the deficit, and bringing the economy back on track. The exemption limit on individual income tax has been raised to 7 lakhs, leading to a boost in GDP by approximately 80,000 Rs per person. MSMEs have been offered faster payments and reduced compliances, while new manufacturing units will benefit from a 15% corporate tax rate. The budget is pro-growth, with a strong focus on infrastructure, manufacturing, health, agriculture, green initiatives and inclusive growth. The fiscal deficit target has been lowered to 5.9%, boosting investor confidence.

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