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Budget 2023 will be growth-oriented, salaried class could get tax relief: A Balasubramanian of Aditya Birla Sun Life AMC

Budget 2023 won't see any tinkering with the LTCG as long as the government doesn't see any revenue increase from the move, said Balasubramanian of Aditya Birla Sun Life AMC in an interview to moneycontrol.

January 26, 2023 / 11:07 AM IST
Aditya Birla Sun Life AMC's Balasubramanian expects govt to hike 80C limit to Rs 2,50,000.

Aditya Birla Sun Life AMC's Balasubramanian expects govt to hike 80C limit to Rs 2,50,000.

The focus of Budget 2023 will be on growth and capex will be a primary driver as India's economy benefits from inflation not spiralling out of control owing to discounted oil prices and interest rates not affecting borrowers as much as they could, said A Balasubramanian, MD & CEO, Aditya Birla Sun Life AMC.

"This budget, my own belief is would be a growth-oriented budget, with reasonably good amount of money being allocated towards Capex, so called the capital expenditure, I think it will continue to remain very, very strong," he said in an interview with moneycontrol.

He said that the PLI scheme that the government rolled out to boost manufacturing has helped in India preparing well as the global shift happens in supply chains more commonly termed China plus 1.

He said that the Union Budget will help in boosting the confidence in the economy and also of the investors by making the right allocations that will drive India's economic growth.