The Union budget was the last full-year budget before the country goes into general elections in 2024. There was a general apprehension that the government would use the budget to announce populist schemes for specific electoral constituencies. Instead, it refrained from populist measures, and projected a fiscal deficit of 5.9 per cent for 2023-24. The budget adhered to the fiscal deficit target of 6.4 per cent for 2022-23. The budget has set a disinvestment target of Rs 51,000 crore. Effective Capital Expenditure’ of Centre to be Rs. 13.7 lakh crore and Targeted Fiscal Deficit to be below 4.5% by 2025-26. Rs. 10 lakh crore capital investment, a steep increase of 33% for third year in a row, to enhance growth potential and job creation, crowd-in private investments, and provide a cushion against global headwinds.
Budget Estimates 2023-24:
• The total receipts other than borrowings is estimated at Rs 27.2 lakh crore and the total expenditure is estimated at Rs 45 lakh crore.
• The net tax receipts are estimated at Rs 23.3 lakh crore.
• The fiscal deficit is estimated to be 5.9 per cent of GDP.
• To finance the fiscal deficit in 2023-24, the net market borrowings from dated securities are estimated at Rs 11.8 lakh crore.
• The gross market borrowings are estimated at Rs 15.4 lakh crore.
HIGHLIGHTS OF THE BUDGET
PART A
• Per capita income has more than doubled to ₹1.97 lakh in around nine years.
• Indian economy has increased in size from being 10th to 5th largest in the world in the past nine years.
Denne historien er fra February 2023-utgaven av Indian Economy & Market.
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Denne historien er fra February 2023-utgaven av Indian Economy & Market.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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