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Budget 2023
Budget 2023

Budget 2023 to see poll-oriented spending boost: Report

Budget 2023: The government is likely to miss the medium-term fiscal roadmap of bringing down the fiscal deficit to 4.5 per cent by FY26, given the overall domestic and global slowdown, as per the report by Swiss brokerage UBS.

January 26, 2023 / 06:55 AM IST

Ahead of the national elections, the last full budget of the Modi government is likely to boost welfare spending with a focus on rural and infra capex, according to a report.

However, it may pencil in for a lower fiscal gap at 5.8 per cent next fiscal, given the likely reduction in subsidies, even though nominal GDP growth is likely to fall by a third to 10.5 per cent, it added.

The government is likely to miss the medium-term fiscal roadmap of bringing down the fiscal deficit to 4.5 per cent by FY26, given the overall domestic and global slowdown, as per the report by Swiss brokerage UBS.

The government will present its last full budget on February 1 amid global and domestic headwinds.