The government's emphasis on consumption, infra and capex push boosted sentiment but sell-off in insurance stocks due to the new tax regime blew off the gains
There is plenty in the Budget for electric vehicles and domestic manufacturing, like provisions to further push scrapping of old vehicles and increase in customs duty of imported vehicles
Minus exemptions, the new structure might incur a greater tax liability than the older one
New sectors including toys, leather and renewable energy expect announcement soon
The number is around 21 percent lower than the estimates of the previous fiscal, which the government is lagging despite a reduction
Budget 2023 may be populist, but not because of personal tax rejigs or a social welfare focus
With the treat of a global recession, increased government spending might bring in more jobs and stimulate private consumption
At a time when education and health care are considered priorities for post-pandemic recovery, the Union Budget sets the right tone in terms of a few long-term, forward-looking plans, but has crucial misses in terms of improving existing schemes, and basic on-ground infrastructure and access
By increasing the amount for the PM Awas Yojana the government plans to continue to promote affordable housing
The government indicated that it will do the heavy lifting to drive capex, in the absence of private sector capex. It announced tax reliefs and benefits for small businesses, all aimed at driving inclusive growth. But the biggest challenge will be global economic headwinds, with a recession looming