Budget 2023 Expectations Highlights: Budget 2023-2024 is scheduled to be presented before the Indian Parliament by Finance Minister Nirmala Sitharaman on February 1, 2023. Experts opine that this Union Budget is likely to take a “balanced approach” towards fiscal consolidation and economic growth. They also expect more focus on capital expenditure towards infrastructure such as railways, roads and defence projects and the expansion of the Centre’s production-linked incentives
scheme to more sectors. Besides this, boosting rural demand and lowering divestment targets and increasing tax exemptions are other key expectations. Further, tweaks to capital gains tax or its tenure structure would also be keenly watched by the Street. Notably, this will be the finance ministers fifth full Budget speech and the third to be delivered in paperless format. This is also the last full Indian Budget ahead of the General Elections in 2024.