A pro-growth, forward-looking budget - Know what's in-store for investors, taxpayers in Budget 2023

The Budget 2023–24 presented by Union Minister of Finance Nirmala Sitharaman on February 1, 2023, appears to be promising with a wide range of measures proposed to boost investments and spur economic growth.

- Sanjeev Puri

From consumption to capex to spending to middle class to industry, the FM has checked every box with an aim to spur growth. The income tax benefits announced will boost purchasing power of middle-class consumers.

The good news for the equity mutual fund investors is that the long-term growth story remains intact and in fact gets a boost. Investors may remain invested and make use of any dip or correction in stock market to add funds into their portfolio for creating wealth over the long term.

The various Budget proposals turned out to be vehemently pro-growth with the potential to encourage further economic recovery and benefit investors who follow India’s economic success. The record-breaking allocation for capital expenditures with a focus on enhancing infrastructure could turn out to be the key to success across the various sectors of the economy such as infrastructure, logistics and the transportation business.