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Budget 2023
Budget 2023

Daily Voice: Budget 2023 may provide income tax relief to middle class

Budget 2023: Since salaried employees are an important source of revenue and this is the last budget before elections, the finance minister may provide relief to the middle-class, feels Anil Rego of Right Horizons.

January 23, 2023 / 01:13 PM IST

"The government will likely continue its focus on the disinvestment target, bring pace to PSU privatisation, deepen corporate bond markets for the financing infrastructure plan, and benefits MSMEs since MSME contributes nearly 30 percent to GDP."

Since salaried employees are an important source of revenue and this is the last budget before elections, the finance minister may provide relief to the middle-class by increasing the exemption limit and incentivise investments, feels Anil Rego of Right Horizons.

In an interview with Moneycontrol, the founder and fund manager of the company also said that the government is expected to scale down the disinvestment target to around Rs 40,000 crore for FY24 since it is challenging to divest stakes in the public sector undertakings and the last sale in 2022 did not meet the expectations.

Also Read: Budget 2023 expectations live updates

Rego, who is also a chartered financial analyst, feels that China and India are expected to be the fastest-growing markets in 2023; and in India, companies with domestic exposure are better investment opportunities in 2023. Edited excerpts: