In line with the trend from past years, to provide impetus to domestic manufacturing, Customs duties have been increased on bicycles, electric chimneys, toys, compounded rubber, and reduced on parts for manufacture of TV panels, certain parts of mobile phones like camera lens, capital goods/machinery for manufacture of lithium-ion cells for use in EVs

Effective implementation of schemes like opening of 47.8 crore PM Jan Dhan bank accounts will benefit common citizens. With the establishment of the Urban Infrastructure Development Fund, we expect infrastructure in Tier 2 and Tier 3 cities receiving a significant boost

Higher capex outlay will have a huge multiplier effect across the economy. The income tax benefits announced will drive consumption by putting more money in the hands of the middle class. The enhanced outlay for the Pradhan Mantri Awas Yojana by 66 per cent to Rs 79,000 cr is great news for affordable housing in urban areas

As a deeptech fund with a number of AI startups in our portfolio, we are thrilled to see such focused AI initiatives taking shape on the ground with academia-industry partnerships. With the new age of generative AI among us, India has to build the home-grown AI layers of hardware and large-scale models beyond the applications focus today

The special focus on boosting tourism and aggressive approach on accelerating infrastructure development is just the news the tourism and hospitality industry was eagerly waiting for. This would give the runway required for the ailing hospitality industry to take off and touch new heights

This Budget is a means of mobilising the vitalities of the new India. It is conducive to growth, development and progress - highly facilitative to capital investment to boost supply and attract private investment

We applaud the government's significant initiative to rationalise direct taxes in the online gaming sector. The amendment to Sections 194B and 115BB of the Income Tax Act 1961 specifying that TDS be calculated on net winnings and thereby allowing offset of losses are steps in the right direction

This is a growth propelling Budget focused on inclusive development, ease of doing business through further digitisation, significant infrastructure investments, further promoting domestic manufacturing, growth of green and alternative energies whilst achieving the stated long term sustainability goals

The Union Budget has missed yet another opportunity in addressing the growing inequality in the country. The allocation for key social sector spendings like health and education continues to remain abysmally low. Oxfam India disappointedly notes that despite high inequality, the Union Budget has announced tax cuts for the people from the highest income slab

The government’s push towards digitalisation of agriculture coupled with focus on hi-tech services would enhance rural entrepreneurship and infuse the youth back in the farmlands, boosting productivity

Budget 2023-24 is a great step towards supporting the long-term growth potential of India's fintech ecosystem amid increasing global headwinds. The new National Financial Information Registry, simplified KYC processes and adoption of PAN as the common business identifier will help streamline business operations for fintechs across India

The government's decision to increase allocation to the flagship Pradhan Mantri Awas Yojana (PMAY) by 66% to Rs 79,000 crore will give a much-needed boost to demand in the affordable housing segment. The focus on infrastructure and the decision to set up an Urban Infrastructure Development Fund would also accelerate the housing sector in Tier 2 and 3 cities.

As expected, Budget 2023-24 is a growth-oriented Budget. The major focus is on capital expenditure… The outlay for capital expenditure has been increased by 33% to Rs 10 lakh crore, almost 3 times the outlay made in 2020. Containing a fiscal deficit at 5.9% is another positive factor

It is not just a Budget, but also a vision document of the 'Amrit Kaal' of futuristic India. It will contribute significantly in writing a new chapter of good governance, poverty alleviation, socio-economic transformation and employment generation

Announcement of a New Savings Scheme 'Mahila Samman Saving Certificate' for women with fixed interest rate of 7.5 percent, for a period of two years is a welcome step

Domestic gold prices moved up by about 1% post the Budget 2023-24 announcement. Finance Minister Nirmala Sitharaman maintained the status quo and did not reduce the custom duty on Gold as was widely anticipated

Budget 2023 had no big surprises for EV manufacturers. We expect that the FAME subsidy will expire once the fund is consumed.

Disappointed with the budget announcement regarding the taxation of insurance premiums as it will impact the high-value savings products that have been relied on by many customers.

Income Tax Reforms ensured more disposable income in the hands of citizens to accelerate demand based growth

With a particular focus on better infrastructure to enhance connectivity, the real estate sector will witness a further rise in demand, particularly in the affordable segment

Government’s continued focus on the energy transition to a low carbon-intensity economy with an allocation of Rs 35,000 crore capital investment in the Budget while also promoting green hydrogen is also a step in the right direction.

Travel industry has taken center stage and the National Tourism Policy will enable the tourism sector to significantly contribute towards the government's mission to target an overall GDP contribution of USD 20 trillion by 2047

Budget looked balanced and growth-oriented, with due consideration for modernism, technology, knowledge society, inclusive growth, agricultural support and a few perks for the salaried class

To position country as the Skill Capital of the World, the Union Budget has certainly taken exemplary steps and reforms including the set-up of 30 Skill Indian International Centres and the launch of a unified 'Skill India Digital Platform'

Extending incorporation benefits for startups to 10 years will further boost sentiment and encourage entrepreneurship in the country

The announcement of broad-basing of Pradhan Mantri Kaushal Vikas Yojana to cover new age courses for Industry will lead to precision farming and encourage rural entrepreneurship

India is on the path to becoming a net zero-carbon economy by 2070 for which Finance Minister Nirmala Sitharaman announced Rs 35,000 crore capital outlay

Budget checks all the right boxes, but more needs to be done for long-term growth

With an increased capital outlay, the budget promotes ease of doing business, infrastructure growth, Agri-tech, and a digital India, provides relief on the personal tax front including increase in rebate limit to Rs 7 lakh in the new tax regime

Customs duty reduction on inputs such as camera lenses, lithium-ion batteries for cell phones, parts for manufacture of open cells of TV panels is a clear push from government towards enhancing domestic manufacturing and making India a hub for exports

The Union Budget has hiked outlays on Infrastructure and Agriculture which in our view would have a force multiplier impact on the economy.

100 critical transport projects for multiple sectors identified... positive for overall infra sector

Customs duty is proposed to be reduced across sectors from 21% to 13%, a welcome change

Increment of the limit for senior citizen savings scheme from Rs 15 lakh to Rs 30 lakh is an important announcement to help senior citizens and retired investors to plan their investments in safer areas better

The Union Budget is a pro-growth Budget which meets expectations while keeping up with fiscal prudence

The FM balances between ground reality and future global scale opportunities extremely well. Safeguarding India's markets, while ascertaining access to international capital and equipment is akin to the crouching of a bengal tiger right before a full stride

Individual taxpayers earning up to Rs 7 lakhs will not have to pay taxes as compared to current limit of Rs 5 lakhs. Further, benefit of standard deduction is also extended under the new tax regime which was not available earlier

Although the gradual fiscal consolidation trend remains intact and will help to stabilise government’s debt burden relative to nominal GDP, the high debt burden and weak debt affordability remain key constraints that offset India’s fundamental strengths, including its high growth potential and deep domestic capital markets.”

FM proposed more long-term loans to states for capital expenditure, increasing the 50-year interest free loan to states to Rs 1.3 lakh crore, 30 percent more than what was allocated for 2022-23.

The rise in capital expenditure by 33% to Rs 10 lakh cr is the shot in the arm heading a multiplier effect on the economy. High amount of schemes and tax benefit to rural economy and taxpayers will enhance consumption growth in India.

Clear take away from this budget is focus on India (domestic centric focus). Consumption (on account of higher disposable income) and Capex sectors (capex up by 33%) both will see strong tail wind along with focus on railways, ports & airports and tourism.

Higher capital outlay for Infra being hiked by 33% to Rs 10 lakh crore will reward the sector and counter global headwinds. Massive push on the capex spending and infrastructure development will go a long way in fulfilling the nation’s ‘Aatmanirbhar’ dream.”

At a macro level, capital investment outlay is enhanced by 33% to Rs 10 lakh crores, which is 3.3% of the GDP, with a big push on infra, employment and green growth. A balanced budget keeping General Elections 2024 clearly in sight!

Significant increase in nursing and medical colleges, strong emphasis to promote innovation and R&D, PPP in healthcare and Medtech specialized workforce will lay a stronger roadmap for the future.

The Budget focuses on opening of 157 new nursing colleges, using existing facilities in select ICMR labs for research by public & private medical facilities and strengthening healthcare sector. We welcome the Mission to eliminate sickle cell anemia by 2047

In a major step towards promoting digital governance, the Government has introduced PAN as the common business identifier and is moving towards a system of unified filing. The concept of interoperable digital IDs and registries promises enhanced convenience and reduced costs for individuals as well as businesses.
Start-ups will enjoy another year of extension on the tax holidays and ability to carry forward losses for an extended period of 10 years.
Angel tax provisions will now apply to shares issuances to non-resident – this will impact cases where foreign investors participate in Indian companies at a higher premium in comparison to the Indian investor

An all-rounder Budget, focused on growth while managing fiscal prudence. The 10 lakh cr. Capex announcement was a big positive surprise while the fiscal deficit target of 5.9% was in line with expectations. Revisions in personal income tax slabs to aid in boosting consumption!

Today's union budget announcement is a testimony to policymaker’s intent of touching every aspect of the economy. Formation of National Financial Information Registry to serve as a central repository of financial and ancillary information is an excellent decision. It is a smart step and will aid in solving the problem of lending, foster financial stability and encourage financial inclusion in the country by aggregated data. It will support smaller NBFCS to bring cost-effective credit underwritings, particularly focused on MSMEs. It will also help to conclude End-to-end digital processing efficiently with standard checks and balances within prompt turnaround time. The Vivad Se Vishwas initiative will boost the confidence of entities dealing with MSMEs as it covers the performance risk. The announced measure will have a butterfly effect on the credit sector as well as will provide cushion to create an engine of growth.

The Union Budget speech from Indirect tax perspective was customs centric, with intention to boost exports, domestic manufacturing/ value addition. Customs duty rationalization for the Green energy sector and exemption extensions to the consumer electronics sector are noteworthy takeaways. Specific announcements on further PLI schemes and customs amnesty scheme may have provided further cheer

Increasing capex investments reassures the long-term view of the government for rural growth and development. Providing Digital Public Infrastructure for Agriculture, financial support and cooperation to farmers and setting up the Agri Accelerator Fund are a step forward to uplift the farmer community and promote entrepreneurship. Budget is well-balanced to ensure long-term sustainable growth, whilst keeping in mind the aspirations of the ‘aam aadmi’.

Rs 35,000 crore allocation for energy transition along with an ambitious target of 5 MMT of hydrogen will unleash new demand impulses across the length and breadth of the country, thereby fielding green growth. This has been complemented by a custom duty and tax reliefs for green mobility.

Budget will lead us towards achieving goal of becoming a $5 trillion economy and 'Top Three' economies within few years

Budget is progressive, people-friendly and gazette of glorious journey of strong and self-reliant India

We welcome Budget - 2023 that has turbocharged Digital India's dream through initiatives focused on emerging technologies and improved business policies. The announcement of creating three centres of excellence will also catalyse startups and entrepreneurs across India to build the next-generation AI ecosystem.

Neither farmer, nor Army or youth. No provision for anyone in the budget. The common man is still yearning for Amrit in Amritkal. Looting for capitalists became easy

This year's budget is also not much different. No government points out the shortcomings of last year and makes new promises again, while in reality, the lives of more than 100 crore people are at stake. People live in hope, but why false hope?

This budget is for building a prosperous, powerful and developed India

Increasing overall capital expenditure outlay on infrastructure development by 33% will help India become Rs 5 trillion dollar economy

MSMEs are backbone of the economy and have been severely affected by the long pandemic. The government already had credit guarantee schemes for MSMEs which were scaled up in a big way during the Covid period. The budget has announced a revamp of the existing guarantee schemes and a fresh allocation of Rs 9000 cr capital for such a guarantee mechanism. This will facilitate an additional credit of Rs 2 Lakh Cr to the sector and provide relief to the smaller businesses which are yet to recover from the Covid stress

In this year's union budget, a grant of Rs 5,300 crore has been announced for Bhadra Maildande Yojna, a major project of the state. Thanks @nsitharaman and Honourable Prime Minister @narendramodi. On behalf of Karnataka, thanks to the Central government.

Nirmala ji said Amritkal has come. It remains to be seen how much 'Amrit' will be showered in the budget

Union Budget should be a accounting statement of Central Govt. How much it earned & spent. In most countries a budget is a non-event. In India it is once in a year opportunity for Finance Minister to grandstand. An annual demonstration of state’s coercive stranglehold on economy.

In the upcoming Budget, the Union government must focus on addressing issues like the impact of the global slowdown on economic growth, falling exports, and the increase in India’s current account deficit, among other issues

India needs an institutional mechanism for global market intelligence to regularly conduct market studies, sector specific studies to understand the dynamics of global trade, barriers to trade, market entry opportunities, etc. This may also include mapping of specific markets to specific MSME clusters. Detailed information should be made available to exporters through an export information portal

Focus on building assets for farmers... Focus on geographies where post-harvest losses are higher, especially with perishable produce. A public-private partnership (PPP) can make this viable as well as scalable

The Union Budget will be an exercise of managing several objectives. These will include movement to fiscal prudence, stimulating growth without accompanying inflation, garnering more resources through non-tax measures, and providing sops wherever necessary

We expect the Budget to consider creating a separate section for tax deduction on premium paid towards life insurance. This will enable an effective segregation of customer’s funds into long-term and short-term kitties