The budget has been drafted keeping in mind the primary goal of attainment of the fiscal deficit ratio of 4.5 per cent by FY26. To this end, the starting point has been reduction in fiscal deficit ratio by 0.5 per cent to 5.9 per cent for the forthcoming year. This will mean a deficit of Rs 17.86 lakh crore, which is almost the same as that of last year (Rs 17.55 lakh crore).
The net borrowing of the government at Rs 11.8 lakh crore will ensure that there is no undue pressure on liquidity in the system. This is important today as there is a tendency for liquidity in the system being compressed presently and the markets were closely watching this number with interest. The fact that the bond yields came down post budget announcement vindicates the fact that the fiscal arithmetic has gone down well with the market.
How has this been achieved? On the revenue side the budget assumes GDP growth of 10.5 per cent which also gets reflected in growth of both direct and indirect taxes. Therefore, in a way, the budget has been conservative with revenue projections. This makes sense in these uncertain times. There can hence be a surprise if things work out better. While doing this, relief has been provided to the income tax payers with the new scheme being made more attractive. There has not been any change in the corporate tax structure though for new companies some incentives have been provided. Therefore, the numbers look realistic.
Diese Geschichte stammt aus der February 25, 2023-Ausgabe von Business World India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der February 25, 2023-Ausgabe von Business World India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
MEMORIES & IMPRESSIONS
Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.
The Robotaxi Market
The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.
And the Nobel Prize Goes to AI
The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.
Ola Electrified
Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.
Sharp Slide in Industrial Output on Eve of Deepavali
India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.
Heralding the Solar Era with Sustainable Electrification
RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more
A WELL-GREASED MACHINE
The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh
Disruption Ahead: Beyond Organisation Charts and Structures
ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.