BUDGET 2023: Making ‘Make in India’ happen
With a clear focus on capital expenditure, technology, developing skilled and young workforce and inclusive development, Budget 2023 has set a positive tone for a sustained high-growth trajectory to meet India’s $5 trillion economy goal. It does a fine job of balancing both the strategic and the tactical intent.
The middle class stands to benefit from the reduction in tax slab (should they opt for the new regime), thus ensuring more money in their hands which is bound to stimulate demand and drive consumption. The discretionary income as a result of this will have a positive impact on the consumer durable industry.