Will Budget 2023-24 be populist or pragmatic? Brokerages weigh in

Budget to focus on rural India, capex, and manufacturing push, as well as prioritising macro stability

Will the government go all out to woo voters with populist schemes in its last full Budget before of the general elections in 2024, or will it toe the line of fiscal prudence? What can retail investors and India Inc hope for?

BROKERAGE: Barclays

EXPECTATIONS

We do not expect any material push to increase the pace of fiscal consolidation in a pre-election year. Capital expenditure (capex) can be prioritised amid steady revenue expenditure. The consolidated fiscal deficit will reach 9.9 per cent of gross domestic product (GDP) in 2022-23 (FY23), broadly on track to meet the Fiscal Responsibility and Budget Management