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Budget 2023: Govt may announce measures to further strengthen startup ecosystem

Budget 2023: Fiscal incentives under the production linked incentive (PLI) scheme to some more sectors are also likely to be announced in the Budget, which will be presented on February 1.

January 26, 2023 / 12:15 PM IST
Budget 2023

Budget 2023

The government is expected to announce in the forthcoming Budget steps to further strengthen the startup ecosystem in the country and address inverted duty issues in certain sectors to promote domestic manufacturing, official sources said.

Fiscal incentives under the production linked incentive (PLI) scheme to some more sectors are also likely to be announced in the Budget, which will be presented on February 1.

Besides, the government may consider providing funds to infrastructure projects approved by the Network Planning Group (NPG), constituted under the PM Gati Shakti initiative, they said.

On October 13 last year, Prime Minister Narendra Modi launched the Gati Shakti - National Master Plan aimed at developing integrated infrastructure to reduce logistics costs.