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Budget 2023: Giving a nudge to middle class consumption 

While rural consumers got no direct boost, by making the new tax regime more attractive the resulting savings could boost consumption

February 01, 2023 / 03:23 PM IST
Budget 2023: Giving a nudge to middle class consumption 

Sitharaman has struck a fine balance between addressing citizens and business needs while ensuring that the fiscal consolidation path is adhered to.

The main boost to consumption in Budget 2023 came from direct tax cuts announced by the FM targeted at the middle class and even young earners. Otherwise the budget did not announce any new schemes or major increase in allocations that could benefit rural India. Weak rural demand has been a problem for some time now. However, the government appears to be staying the course, focusing on capital investments, skill-building, schemes to improve agricultural productivity and incomes and so...

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