INDIA INC SEEKS ENHANCED EASE OF DOING BUSINESS, FAME II EXTENSION, EV INCENTIVES

Entities from critical sectors also expect tax/tariff incentives for EVs, equipping youth with industry relevant skills and industry status to real estate sector.

- NIVEDITA MUKHERJEE

With India's economy showing resilience amidst headwinds due to the tightening financial conditions and geopolitical tensions and challenges of inflation and supply chain disruptions, India Inc entities from critical sectors of the economy, while largely optimistic about GDP growing over 6.5%, are hoping that Budget 2023 will fuel growth across industries by building strong domestic demand and focussing on capital expenditure. Setting the tone of the Budget expectations, CII's Business Confidence Index rebounded to its highest reading in almost two years of 67.6 in the October-December quarter from 62.2 in the previous quarter, reflecting a subsiding of concerns around the impending recession and its impact on the Indian economy as well as confidence over their company's investment cycle recovering during the next financial year and capacity utilization level rising in the range between 75-100 per cent during the Q3FY2023.