Finance minister in the Budget 2023 announced the highest ever proposed capex of INR 10 lakh crore in FY24 (3.3% of GDP); this push for infrastructure development will have a cascading impact on industrial sectors including Electrical & Electronics, Automotive, Industrial Machines, Pharma, Chemicals, Textiles and Apparels. This would further propel employment and assist in manufacturing taking center stage in the Indian economy."
“The increase in capex on infrastructure and the emphasis on green growth will help the mobility sector. This budget gives something to everyone - from rural India, start-up India, middle class India, to digital India - it is about inclusive growth and building on the recovery we are seeing after the pandemic. It strikes a fine balance between growth and fiscal prudence.”
“Looks like a pragmatic budget. Focus on rural economy, capex and infrastructure is expected to create jobs, push growth in transport and allied sectors, including banking. Easier KYC norms, expansion of DigiLocker services, overall impetus on digitalisation and last mile connectivity augurs well for financial services. With the new age banks at the forefront of taking the digital-led benefits to Bharat, we expect increased engagement and value creation for the masses.”
"Budget 2023-24 is a well-rounded progressive & inclusive budget. The focus on important parameters like boosting consumption and inclusion is a welcome measure for our growing economy. The government has laid an important thrust on Capital Investment which will enhance consumption and create employment, both of which have been important areas of attention, especially post the pandemic. Allocation of the Budget to PM Awaas Yojana will further boost the housing sector. Support to MSME sector along with enhancement of credit guarantee scheme will provide much needed relief to the sector. The new slabs of taxes will further help boost economic parameters like consumption, thus providing more impetus to economic growth."
“By laying a significant emphasis on Capex and Energy Transition, the FM has provided foundation for strong anti-cyclical momentum that should enable robust domestic economic growth and help counter the expected global headwinds.
The focus on making India future ready by way of AI labs, Agri-tech, R&D in healthcare, further boosting Digital Public Infrastructure and holistically expanding physical infrastructure, auger very well for sustained long term economic growth."