Published on February 1, 2023
“The Union Budget has provided a much larger-than-expected boost to growth-inducing capital spending, while at the same time managing a fair degree of fiscal consolidation. The Budget proposals are likely to enhance business, rural and tax payer sentiment and consolidate India’s growth prospects in a gloomy global setting. With the Government’s borrowings similar to market expectations, the bond yields are likely to stabilise, which would also support the private sector capex plans.”