Budget 2023: Reading between the lines
It’s almost a week since the union budget for FY24 was presented in the parliament. The budget documents have been analysed by a variety of experts. Most of these experts have focused their opinion on the budget as per their professional affiliations and/or ideological orientation. If I may sum up the consensus opinions, it would be as follows: · Development economists have criticized the budget for inadequate allocation to the social sector, especially education, health, rural welfare, MNREGA etc. · Market economists and strategists have commended the budget for higher allocation towards capital expenditure and commitment to fiscal discipline despite political expediency. · Accounting and tax professionals have spoken about the changes proposed in the tax laws to ease compliance and plug tax evasion loopholes. · ...