'Budget 2023 Expected To Build On Reforms Agenda To Ignite Engine of Entrepreneurship, Job Growth'
1 year, 10 months ago

'Budget 2023 Expected To Build On Reforms Agenda To Ignite Engine of Entrepreneurship, Job Growth'

News 18  

The Union Budget is one of the most-awaited documents presented by the government. However, with inflation and with post-pandemic recovery boosting tax revenues, it is expected that the central gross fiscal deficit will be contained at the target of 6.4 per cent for this fiscal year. In the previous Budgets, the FM had opted for a longer fiscal consolidation path, with the gross fiscal deficit expected to pare down to 3.5 per cent only by 2025. The government, in anticipation of a global slowdown that may lead to export deceleration, can incentivise the private sector by pushing ahead the implementation timeline of some large infrastructure projects. As per Deloitte forecasts, the expected GDP growth rate for FY 2022-23 is between 6.5 per cent and 6.9 per cent.

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