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Key takeaway from Budget 2023 – Simplicity

The focus is on higher capital expenditure and fiscal consolidation

February 01, 2023 / 10:16 PM IST
Key takeaway from Budget 2023 – Simplicity

Kudos to finance minister Nirmala Sitharaman for a straightforward budget, with two key messages — the seriousness about capital expenditure and the resumption of the journey towards fiscal consolidation

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights Budget devoid of fireworks, but honest and simple Numbers are credible on the revenue side Reduction in revenue expenditure ahead of elections is bold Entire incremental income and savings on subsidies going towards capex Gross and net borrowing manageable – no incremental pressure on rates Overall the budget’s direction and tone positive for corporate earnings The Union Budget for FY24 could soon be forgotten by many as it was devoid of fireworks, big-bang announcements, and so-called bold reforms. However, it was an honest and simple...

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