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By Nilesh Shah, Group President & MD, Kotak Mahindra Asset Management Co. Ltd

"This budget is focussed on supporting growth through encouraging investments and encouraging entrepreneurs, starts ups and tax payers by creating trust.

Capital expenditure has moved from 12% of budget in FY 15 to 19% of budget in FY 23. Revenue Receipt growth at 6% is significantly lower than 27% last year. This is driven by significantly lower divestment and asset Monetization target. Hopefully there is an upside on revenue receipts.

This budget is about laying the foundation for the positioning of centenary of India. 68% of defense capital allocation to local manufacturers, launch of CBDC, focus on organic farming and environmental issues / climate change, developing logistics in India, digital banks and futuristic policies like battery swapping or inter operatibility standards etc will be the building blocks."

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