Mumbai: “Consistency is the key theme of Union Budget 2023.” The union budget of 2023 has been exceptionally consistent over the years in focus areas across Infrastructure, Agriculture, MSMEs and ease of doing business.
The capital expenditure has been increased by 33 per cent to a historic high of INR10 lakh crores, showing government’s commitment to creating jobs and stimulating expenditure resulting in a multiplier effect pegging GDP growth at 7 per cent .
Investments in development of public digital infrastructure for agriculture, facilitating data embassies in GIFT City, expanding the use of Digi Locker and setting up National Financial Information repository signal towards the continued focus on digitisation and broadening its access to the public.
Revamped Credit Guarantee Scheme for MSMEs is a significant move to support MSMEs’ who have been battered by Covid related disruptions, the infusion of Rs 9000 crore into the corpus would undoubtedly benefit small business owners.
Concrete actionables towards ease of doing business in the form of PAN being a single identifier, reducing compliances and decriminalizing provisions are legislative steps ensuring ease of doing business.
Overall, it is a promising budget that continues to build on the groundwork laid during the previous budgets.”