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Moneycontrol Budget 2023
The New Normal
Moneycontrol Budget 2023

Budget 2023-24

Budget and Impact on Sectors

Travel

Makeover for 50 Tourist Destinations

Makeover for 50 Tourist Destinations

Destinations to be developed as package for tourists

impact

Higher forex inflows, boost for service sector

stocks to watch for

Startup And IT/ITeS

Labs for 5G Apps

Labs for 5G Apps

AI centres and 5G labs to boost app development

impact

Speed up use case in 5G-led innovations in agri, education, healthcare

stocks to watch for

Real Estate

Building Up the Housing Sector

Building Up the Housing Sector

Higher allocation to PM Awaas Yojna

impact

Big push for realtors, allied sectors like HFCs

stocks to watch for

Consumer & Retail

Spending Spree on the Way

Spending Spree on the Way

Income tax cut, rebate increased

impact

More money in wallet for the consumer

stocks to watch for

  • 465.05
    -7.20 (-1.52%)
  • 2569.85
    -13.45 (-0.52%)

Financial Market

Govt Spending in Check

Govt Spending in Check

FY23 fiscal deficit target on track, 5% of GDP for FY24

impact

Markets borrowing in line with expectations, interest rates in check

stocks to watch for

Banking

MSMEs to get More Credit

MSMEs to get More Credit

Rs 9,000 crore more capital for MSME Credit Guarantee Scheme

impact

Good news for smaller companies recovering from the pandemic

stocks to watch for

Energy

Fast Track to Clean Energy

Fast Track to Clean Energy

Rs 35,000 crore announced for energy transition

impact

Easier to raise funds for energy transition, green projects

stocks to watch for

Infra

Capex Led Growth to Take Off

Capex Led Growth to Take Off

Govt to spend Rs 10 lakh crore on capex in FY24

impact

Medium-term growth multiplier

stocks to watch for

Healthcare

Innovation in Pharma gets Leg Up

Innovation in Pharma gets Leg Up

Pharma R&D support, more nursing colleges

impact

Better innovation and healthcare manpower

stocks to watch for

Auto

Green Mobility gets Tax Sops

Green Mobility gets Tax Sops

Sops for EVs and support for scrappage policy

impact

EVs to get cheaper, greater demand for automotive

stocks to watch for

Food & Agri Business

Credit Facility for Farmers Raised

Credit Facility for Farmers Raised

Duty relief for shrimp feed manufacturers, agri credit target hiked

impact

Boost for shrimp exports and high-value horticulture

stocks to watch for

  • 465.05
    -7.20 (-1.52%)
  • 2569.85
    -13.45 (-0.52%)

Personal Wealth

More Money in People's Hands

More Money in People's Hands

Tax exemption limit raised, surcharge rate reduced

impact

More disposable income at the hand of consumers

stocks to watch for

Railways

Outlay for Railways Multiplies

Outlay for Railways Multiplies

Capital outlay of Rs 2.40 lakh crore; 9x the outlay in FY14

impact

Greater allocation for railway infrastructure, may push usage higher

stocks to watch for

Chemicals/Fertiliser

Salute to Alternative Fertilisers

Salute to Alternative Fertilisers

PM PRANAM: Incentivise states and UTs to promote alternative fertilisers and balanced use of chemical fert.

impact

Lower input costs, increased use of alternate fertilisers

stocks to watch for

Power

Shot of Green

Shot of Green

Rs 35,000 crore for clean energy transition, incentive programme for states and UTs

impact

Increased adoption of green energy

stocks to watch for

Defence

Boost for Domestic Defence

Boost for Domestic Defence

Defence budget raised to Rs 5.94 lakh crore

impact

Increased localisation of defence and good outlook for domestic cos

stocks to watch for

Infra

Push for States’ Infra Spending

Push for States’ Infra Spending

Interest free loan for one more year for state govt, outlay of Rs 1.3 lakh crore

impact

Will spur states’ spending on infra, create more jobs

Aviation

Tailwind for Air Travel

Tailwind for Air Travel

50 additional airports, heliports, water aerodromes

impact

To improved regional air connectivity, to help tourism and travel sectors

Urban Infra

Smaller Towns in Focus

Smaller Towns in Focus

Urban Infrastructure Development Fund to be set up

impact

Will help public agencies create infra in Tier-II, Tier-III cities

stocks to watch for

Jewellery

Reform to Shine Brighter

Reform to Shine Brighter

Basic customs duty reduced on seeds used to make lab-grown diamonds

impact

Will reduce cost for domestic industry, which can improve its exports share

stocks to watch for

Steel

Forging a Stronger Industry

Forging a Stronger Industry

Exemption of customs duty for some raw materials for steel manufacturing

impact

Help domestic industry to price products more competitively

stocks to watch for

Whirlpool of India. 1416.55
Jubilant Foodworks 470.80
Bharat Electronics 127.25
Chambal Fertilisers and Chemicals 272.95
ITC 465.05
Bharat Petroleum Corporation 379.25
Larsen & Toubro 2660.20
Dixon Technologies 4050.45
Tata AIA Life Insurance
SMC
Intel vPRO
Hafele
How senior citizens can optimise use of SCSS, PMVVY scheme

How senior citizens can optimise use of SCSS, PMVVY scheme

The SCSS and PMVVY combination is good for regular income seekers, including most retired people. However, the PMVVY scheme is scheduled to end in March.

BY DEV ASHISH | 5 MONTHS AGO
Budget 2023: A glimmer of hope on the rural jobs front

Budget 2023: A glimmer of hope on the rural jobs front

BY MONEYCONTROL OPINION
6 MONTHS AGO
STARTUPS AND IT/ITES
INFRA
Budget 2023 |What the $200 billion Indian technology sector wants from Budget 2023 and Finance Minister Nirmala Sitharaman

Budget 2023 |What the $200 billion Indian technology sector wants from Budget 2023 and Finance Minister Nirmala Sitharaman

  • Budget 2023 |What the $200 billion Indian technology sector wants from Budget 2023 and Finance Minister Nirmala Sitharaman
    Budget 2023 |What the $200 billion Indian technolo...
Budget 2023: What do businesses want? Wagh Bakri's Parag Desai shares wishlist

Budget 2023: What do businesses want? Wagh Bakri's Parag Desai shares wishlist

  • Budget 2023: What do businesses want? Wagh Bakri's Parag Desai shares wishlist
    Budget 2023: What do businesses want? Wagh Bakri's...
  • Budget 2023: What FM Sitharaman Can Do For Small & Medium-Scale Businesses | Vishal Fabrics CEO
    Budget 2023: What FM Sitharaman Can Do For Small &...
  • Budget 2023 | Exclusive interview with Montek Singh Ahluwalia: What to expect this year?
    Budget 2023 | Exclusive interview with Montek Sing...
  • Budget 2023 | Capital Gains Tax, Bonds & Portfolios: Kotak Investment Advisory's Lakshmi Iyer Exclusive
    Budget 2023 | Capital Gains Tax, Bonds & Portfolio...
  • Budget 2023 | Equity As An Asset Class Is Heavily Taxed | White Oak Capital CEO Aashish Somaiyaa
    Budget 2023 | Equity As An Asset Class Is Heavily ...
  • Budget 2023 | CRISIL's Prescription For Budget | CRISIL Chief Economist DK Joshi shares his views
    Budget 2023 | CRISIL's Prescription For Budget | C...
  • Budget 2023: Fiscal Deficit, Capital Expenditure & More: These Are The Numbers To Watch
    Budget 2023: Fiscal Deficit, Capital Expenditure &...
Budget 2023 | MC Budget Manifesto | Taxpayer’s wishlist for FM Sitharaman

Budget 2023 | MC Budget Manifesto | Taxpayer’s wishlist for FM Sitharaman

  • Budget 2023 | MC Budget Manifesto | Taxpayer’s wishlist for FM Sitharaman
    Budget 2023 | MC Budget Manifesto | Taxpayer’s wis...
  • Budget 2023 | MC Budget Manifesto: Agri sector's wish list for Finance Minister Nirmala Sitharaman
    Budget 2023 | MC Budget Manifesto: Agri sector's w...
  • Budget 2023 | MC Budget Manifesto | Wishlist On Economy For FM Sitharaman
    Budget 2023 | MC Budget Manifesto | Wishlist On Ec...
  • Budget 2023 | MC Budget Manifesto | Banking Sector's Wishlist For FM Sitharaman
    Budget 2023 | MC Budget Manifesto | Banking Sector...
  • Budget 2023 | MC Budget Manifesto: What does the stock market want from FM Sitharaman?
    Budget 2023 | MC Budget Manifesto: What does the s...
  • Budget 2023 | MC Budget Manifesto | Energy sector’s wishlist for FM Sitharaman
    Budget 2023 | MC Budget Manifesto | Energy sector’...
Budget 2023: Modi Govt’s Last Full Budget Before Elections​ | Will India Spend More? | Pre-Budget Discussion

Budget 2023: Modi Govt’s Last Full Budget Before Elections​ | Will India Spend More? | Pre-Budget Discussion

  • Budget 2023: Modi Govt’s Last Full Budget Before Elections​ | Will India Spend More? | Pre-Budget Discussion
    Budget 2023: Modi Govt’s Last Full Budget Before E...
  • Budget 2023 | Jayant Sinha Exclusive Interview: Will there be any respite for income taxpayers?
    Budget 2023 | Jayant Sinha Exclusive Interview: Wi...
  • Budget 2023 | Nirmal Jain, IIFL Group: India Sweet Spot In World Hit By Inflation & Recession
    Budget 2023 | Nirmal Jain, IIFL Group: India Sweet...
  • Budget 2023 | How exemption-less taxation will benefit India | Bibek Debroy Exclusive Interview
    Budget 2023 | How exemption-less taxation will ben...
  • Budget 2023: Keep focus on capex and fiscal consolidation, says Pranjul Bhandari of HSBC
    Budget 2023: Keep focus on capex and fiscal consol...
  • Budget 2023 |How can the Budget spur M&A and capital market deals? | The I-Sec Perspective
    Budget 2023 |How can the Budget spur M&A and capit...
  • Budget 2023: How will budget pan out for roads & railways this year? | Priyankar Biswas Exclusive
    Budget 2023: How will budget pan out for roads & r...
  • Budget 2023 | Budget Expectations For Chemical Sector | Meghmani Finechem's Maulik Patel
    Budget 2023 | Budget Expectations For Chemical Sec...
  • Budget 2023 Expectations | Joint MD and Group CFO of JSW Seshagiri Rao shares his views
    Budget 2023 Expectations | Joint MD and Group CFO ...
  • Budget 2023|South Indian Bank CEO & MD Murali Ramakrishnan On Budget Expectations, Credit Target And CBDC
    Budget 2023|South Indian Bank CEO & MD Murali Rama...
  • Budget 2023 | Need level playing field for steel industries, says Jindal Steel Power's Bimlendra Jha
    Budget 2023 | Need level playing field for steel i...
Budget 2023 | Ghar Ka Ganit: Expectations of middle class from the union budget

Budget 2023 | Ghar Ka Ganit: Expectations of middle class from the union budget

  • Budget 2023 | Ghar Ka Ganit: Expectations of middle class from the union budget
    Budget 2023 | Ghar Ka Ganit: Expectations of middl...
Growth recovery stays on track

Growth recovery stays on track

But private consumption is off highs

But private consumption is off highs

Gross investments have steadied

Gross investments have steadied

Manufacturing growth has eased

Manufacturing growth has eased

Inflation is back within target band

Inflation is back within target band

Policy interest rate has risen to four-year high

Policy interest rate has risen to four-year high

Govt debt is projected to stay elevated

Govt debt is projected to stay elevated

While budget gap narrows gradually

While budget gap narrows gradually

Tax collections remain buoyant

Tax collections remain buoyant

Sharekhan
Tata AIA Life Insurance
SMC
Hafele
Motilal Oswal
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All you need to know about EPF withdrawal, leave encashment

All you need to know about EPF withdrawal, leave encashment

Budget announcements included amendments to provide relief to salaried taxpayers withdrawing their provident fund balance or receiving leave encashment from their employers.

BY SARASWATHI KASTURIRANGAN | 6 MONTHS AGO

FHRAI pitches for infrastructure status to hospitality sector

FHRAI pitches for infrastructure status to hospitality sector

Budget 2023: In its pre-Budget demand, the Federation of Hotel & Restaurant Associations of India (FHRAI) said although industry status has been accorded to tourism and hospitality by many state governments, the incentives and privileges associated with an industry have not been conferred to the sector.

BY PTI | 6 MONTHS AGO
Insurers seek separate tax deduction basket for life policies, higher limit for health premium

Insurers seek separate tax deduction basket for life policies, higher limit for health premium

Ahead of the budget, insurance companies also want finance minister Nirmala Sitharaman to accept their demand to exempt the principal component of annuities, or pension income, from tax

BY PREETI KULKARNI | 6 MONTHS AGO
TCS chief Rajesh Gopinathan sees services sector happy, centred on govt agenda

TCS chief Rajesh Gopinathan sees services sector happy, centred on govt agenda

The TCS chief added the government has also been 'quite supportive' of the sector, through the pandemic, and in various FTA (Free trade agreement) negotiations.

BY MANSI VERMA | 6 MONTHS AGO
This income tax rebate for EV adoption can get an extension

This income tax rebate for EV adoption can get an extension

EV players want the government to extend some of the incentives under Budget for rapid adoption of EVs and to make it more affordable.

BY MONEYCONTROL NEWS | 6 MONTHS AGO
Homebuyers complain of high interest rates denting affordability, seek tax sops

Homebuyers complain of high interest rates denting affordability, seek tax sops

The government should introduce schemes that will put the focus on completing legacy real estate projects that have been stuck for more than a decade, they say

BY MONEYCONTROL NEWS | 6 MONTHS AGO
What FM Sitharaman Can Do For Small & Medium-Scale Businesses | Vishal Fabrics CEO

What FM Sitharaman Can Do For Small & Medium-Scale Businesses | Vishal Fabrics CEO

Recovery from the pandemic, escalating raw material costs & compliance constraints — small & medium enterprises have a lot to deal with. So, what can the Finance Minister do for them in the Budget 2023-24? 'This is an era of change for SMEs, if we want to be an export hub for futuristic industries like green hydrogen, need policies to make them globally competitive,' says Vishal Fabrics CEO Vinay Thadani. Listen in

BY MONEYCONTROL NEWS | 6 MONTHS AGO
LTCG rationalisation will bring back the bulls; policy uncertainty will disappoint the markets: Nirmal Jain

LTCG rationalisation will bring back the bulls; policy uncertainty will disappoint the markets: Nirmal Jain

The IIFL Chairman feels that growth in private capex would come on the back of higher capacity utilisation, mostly in export-oriented units.

BY NICKEY MIRCHANDANI | 6 MONTHS AGO
Shorter holding period for non-equity funds, hike in equity LTCG limit to Rs 2 lakh

Shorter holding period for non-equity funds, hike in equity LTCG limit to Rs 2 lakh

Simplifying the complex capital gains tax regime in India ranks high in Budget 2023 expectations. It can bring cheer to taxpayers and ensure sustained investor interest.

BY SARASWATHI KASTURIRANGAN | 6 MONTHS AGO
What is in store for banking sector? Will govt bite the bullet on crypto regulations?

What is in store for banking sector? Will govt bite the bullet on crypto regulations?

The government should act urgently on crypto regulations and give clarity on the bank privatisation plan. 

BY DINESH UNNIKRISHNAN | 7 MONTHS AGO
Budget 2023: Data centres and green hydrogen to drive private capex growth

Budget 2023: Data centres and green hydrogen to drive private capex growth

With increasing data usage and India's aim to boost local production and encourage the use of green hydrogen, data centre and green hydrogen space could be in the spotlight in the years coming ahead.

BY DIPTI SHARMA | 6 MONTHS AGO
Cost pressures ease for cement firms, will the Budget 2023 spur demand?

Cost pressures ease for cement firms, will the Budget 2023 spur demand?

Increase in infrastructure capex by the government will lift cement sales. This, along with softening input costs, augurs well for revenue growth and earnings expansion

BY VATSALA KAMAT | 6 MONTHS AGO
Medical device makers seek GST cut to battle imports from China, US

Medical device makers seek GST cut to battle imports from China, US

Demand help for MSMEs in the sector, higher import duty, increase in healthcare expenditure and restructuring of GST rates to encourage the domestic industry against imports which grew 41 per cent last year.

BY SUMI SUKANYA DUTTA | 6 MONTHS AGO
What food and agri businesses need

What food and agri businesses need

Ease of doing business, supply chain infrastructure, market linkages and support for technology development are the key asks for the sector.

BY ANAND RAMANATHAN | 7 MONTHS AGO
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India on cusp of returning to high growth trajectory, will become world's third largest economy by 2027-28

Arvind Panagariya 6 MONTHS AGO

FORMER VICE CHAIRMAN OF NITI AAYOG

Pundits' View

MONEYCONTROL HAS POLLED INDIA'S TOP ECONOMISTS ON HOW THE BUDGET NUMBERS WILL LOOK

Budget 2023 | Pundits' View: From fiscal deficit to capex, economists predict FY24 Budget details

Budget 2023 | Pundits' View: From fiscal deficit to capex, economists predict FY24 Budget details

Union Budget 2023-24: Experts said the Centre may target a fiscal deficit of 5.9 percent of GDP with capital expenditure set for another increase to almost Rs 9 lakh crore

BY SIDDHARTH UPASANI
Nominal GDP growth is set to cool sharply
Fiscal deficit: Gradual fiscal consolidation is expected
Govt`s borrowing is forecast to hit a new high
Capex spending projected to scale new peak
Disinvestment target will be realistic

A note is a string of text placed at the bottom of a page in a book or document or at the end of a chapter, volume, or the whole text. The nA note is a string of text placed at the bottom of a page in a book or document or at the end of a chapter, volume, or the whole text. The note can provide an author’s comments on the main text or citations of a reference work in support of the text.ote can provide an author’s comments on the main text or citations of a reference work in support of the text.

WHAT INDIA WANTS FROM BUDGET 2023

Amitabh Choudhary
Amitabh Choudhary
AXIS BANK CHIEF EXECUTIVE OFFICER

Hoping the government continues on the path it has set for itself, supporting capex and the marginalised society

WHAT INDIA WANTS FROM BUDGET 2023

Rajesh Jejurikar
Rajesh Jejurikar
EXECUTIVE DIRECTOR, M&M

I think creating positive sentiment and the economy driving consumption--that should be the key priority

WHAT INDIA WANTS FROM BUDGET 2023

Rajesh Cheruvu
Rajesh Cheruvu
MANAGING DIRECTOR AND CHIEF INVESTMENT OFFICER AT LGT WEALTH INDIA

Sectorally with expectations of the FY24 Budget to remain capex-oriented, industrial and infrastructure should remain in focus

Moneycontrol Pro
Moneycontrol Pro
In 2023, Will India Add Capacities For Faster Growth?
Govt to train lakhs of youth in AI, drones, coding in the next 3 years
Govt to train lakhs of youth in AI, drones, coding in the next 3 years

Budget 2023: Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is a scheme of the Ministry of Skill Development & Entrepreneurship (MSDE) implemented by National Skill Development Corporation.

BY MONEYCONTROL NEWS | 6 MONTHS AGO
THE TEAM RESPONSIBLE FOR THE BUDGET PREPARATION
Nirmala Sitharaman
Nirmala Sitharaman

Finance Minister, Government of India

Laying the groundwork for post-pandemic recovery
Tuhin Kanta Pandey

DIPAM Secy All eyes on the disinvestment roadmap

TV Somanathan

Finance Secretary Helped boost the capital expenditure

Ajay Seth

DEA Secy Crucial person behind the Budget Division

Sanjay Malhotra

Revenue Secy In charge of revenue projections

Vivek Joshi

Financial Services Secy Banks in focus as economy takes off

V Anantha Nageswaran

Chief Economic Adviser Will shape the Economic Survey 2022-23

Fiscal deficit
Vote on Account
Direct tax
What is plan and non-plan expenditure?
Disinvestment
What is a capital budget?

BUDGET 2023 LIVE UPDATES

Finance Minister Nirmala Sitharaman gave the salaried tax relief under new regime and stepped on the capex pedal in a Budget that aimed to boost consumption and growth.

Key takeaways

-- Nirmala Sitharaman assured fiscal deficit will fall to 5.9% of the GDP, as promised in the glide path, suggesting money will be available for firms to borrow.

-- The new tax regime, an exemption-free regime, has been made the default option. Taxpayers have the option of continuing under the old regime. Those opting for the new tax regime may find their tax liability lowered following the rejig of tax slabs.

-- The tax structure in the new personal income tax regime, introduced in Budget 2020 with six slabs, has been reduced to five, after increasing the tax exemption limit to Rs 3 lakh from Rs 2.50 lakh at present and widening the tax slabs. Income of Rs 15 lakh will henceforth attract 20 percent against the current 25 percent.

-- Individual taxpayers with a total income of up to Rs 7 lakh will not need to pay any tax after availing the rebate allowed under both the old and new regimes. This limit is Rs 5 lakh at present.

-- The finance minister hiked capital investment outlay by 33% to Rs 10 lakh crore in FY24, which is 3.3% of the GDP.

-- Agriculture credit target for FY24 has been set at Rs 20 lakh crore, up from Rs 18.5 lakh crore budget estimate for FY23.

-- PM Awas Yojana outlay has been increased by 66% to Rs 79,000 crore in the next fiscal.
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