Union Budget 2022-23 had special emphasis on Financial Inclusion, technology adoption and entrepreneurship - Raghvendra Nath, Ladderup Wealth Management
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Mr. Raghvendra Nath, Managing Director – Ladderup Wealth Management Private Limited
“The Budget has rightly focused on the broad agenda for Economic growth rather than unnecessarily tinkering with the structures. The fiscal deficit of 6.9 percent in the revised estimate for the current FY is a tad higher than what was expected but considering that the last twelve months have been extremely challenging for the economy, it is not a big negative. The projected fiscal deficit of 6.4 percent of GDP gives enough head room to the government to bolster Economic activity. The highlight of the budget was the announcement to increase the Capital Expenditure by the government to Rs 7.5 lakh crores a growth of 35% over the previous year. This indicates the government’s intent to act as the prime-driver to support Economic growth. The announcement of launching the digital rupee by RBI based on the blockchain technology is an extremely forward-looking move which should curb the speculations in the cryptocurrency space. On the taxation front, capping the surcharge on capital gains to 15 percent is a good move, especially for unlisted companies and Start-ups. The government is rightly promoting Production Linked Incentive Schemes (PLI) and continues to expand its scope as this scheme is now becoming the key driver of growth in the manufacturing sector. Overall, the budget has been extremely balanced and should support Economic growth in the next year.”
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