Budget 2023 delivers on all counts; pushes hard on capex, growth

Budget 2023 has more or less maintained the ratio of size of the budget to GDP to around 15 per cent.

From an economist standpoint, two areas were of concern in the content of the Union Budget. One is the fiscal deficit target for fiscal 2023-24 (FY24) and the other was the allocation for capex. On both counts, there is satisfaction as the Budget has delivered well.

The fiscal deficit ratio is to come down from 6.4 per cent in FY23 to 5.9 per cent in FY24, which is well on the path of fiscal prudence. If combined with the takeaways from the Economic Survey which argued that the economy has recouped all losses and is on the right path of