Union Budget 2023-24: Growth pragmatism over populism

The infrastructure sector got the lion's share of the capex bazooka, which will have a significant multiplier effect on economic growth

Budget 2023 struck the perfect balance between maintaining fiscal prudence and enhancing growth capex, while simultaneously rolling out tax benefits for the salaried class and introducing processes to simplify conducting business activities. The slew of announcements will have a direct impact on boosting job creation, supporting start-ups, sunrise and core industries, MSMEs and rural development along with a thrust towards greater financial inclusion and digitisation.

The infrastructure sector got the lion’s share of the capex bazooka, with a 33 per cent increase as compared to last year, which will have a significant multiplier effect on economic growth. This, combined with