The Union Budget 2023-24
Indian Economy & Market|February 2023
First the good news: Finance Minister Nirmala Sitharaman has stated that India’s per capita income has increased to Rs 1.97 lakh crore. This increase in the per capita income is a major jump in the past decades.
The Union Budget 2023-24

The Union budget was the last full-year budget before the country goes into general elections in 2024. There was a general apprehension that the government would use the budget to announce populist schemes for specific electoral constituencies. Instead, it refrained from populist measures, and projected a fiscal deficit of 5.9 per cent for 2023-24. The budget adhered to the fiscal deficit target of 6.4 per cent for 2022-23. The budget has set a disinvestment target of Rs 51,000 crore. Effective Capital Expenditure’ of Centre to be Rs. 13.7 lakh crore and Targeted Fiscal Deficit to be below 4.5% by 2025-26. Rs. 10 lakh crore capital investment, a steep increase of 33% for third year in a row, to enhance growth potential and job creation, crowd-in private investments, and provide a cushion against global headwinds.

Budget Estimates 2023-24:

• The total receipts other than borrowings is estimated at Rs 27.2 lakh crore and the total expenditure is estimated at Rs 45 lakh crore.

• The net tax receipts are estimated at Rs 23.3 lakh crore.

• The fiscal deficit is estimated to be 5.9 per cent of GDP.

• To finance the fiscal deficit in 2023-24, the net market borrowings from dated securities are estimated at Rs 11.8 lakh crore.

• The gross market borrowings are estimated at Rs 15.4 lakh crore.

HIGHLIGHTS OF THE BUDGET

PART A

• Per capita income has more than doubled to ₹1.97 lakh in around nine years.

• Indian economy has increased in size from being 10th to 5th largest in the world in the past nine years.

This story is from the February 2023 edition of Indian Economy & Market.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

This story is from the February 2023 edition of Indian Economy & Market.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

MORE STORIES FROM INDIAN ECONOMY & MARKETView All
Do You Know? Now Google Search Results Are Dictated By A Political Doctrine
Indian Economy & Market

Do You Know? Now Google Search Results Are Dictated By A Political Doctrine

Google has become the tip of the spear in the management of the public mind. Google search results are dictated by a political doctrine that you are supposed to hold. The algorithms overwhelmingly favor approved talking points, even if false, with a vast and hugely influential machine now serving one political interest and dictated by one agenda. Search is no longer reliably informative of what's actually out there. "I'll Google that," once meant to get a wide range of wants you to believe. Jeffrey A. Tucker says those wonderful days are long gone outlooks on a topic. Now it means mostly to find out what the opinion cartel my & Market

time-read
6 mins  |
April 2024
In the Backdrop of World War III
Indian Economy & Market

In the Backdrop of World War III

When Iran's Supreme Leader Khamenei thundered a day back, \"We will make the ZIONISTS regret this crime of attacking the Iranian consulate in Syria and other crimes like this, by God's power and strength,\" now the stage is almost set for the World War III.

time-read
6 mins  |
April 2024
BE AGGRESSIVE ON DEFENSIVE
Indian Economy & Market

BE AGGRESSIVE ON DEFENSIVE

In an uncertain and volatile market, FMCG sector with strong return ratios, higher dividend yield ensures long-term capital preservation.

time-read
5 mins  |
April 2024
RBI MPC Meeting Key Takeaways
Indian Economy & Market

RBI MPC Meeting Key Takeaways

Reserve Bank of India's Monetary Policy Committee has decided to keep the repo rate steady at 6.5 per cent for the seventh consecutive time. Governor Shaktikanta Das highlighted the committee's majority decision of 5:1 to maintain the current stance, focusing on liquidity management to curb inflation.

time-read
2 mins  |
April 2024
India AI MISSION Well-positioned to Pave the Way for a Transformative Future
Indian Economy & Market

India AI MISSION Well-positioned to Pave the Way for a Transformative Future

The government has allocated Rs 10,300 crore for the IndiaAl Mission over the next five years. By nurturing an environment conducive to innovation, promoting knowledge sharing, and empowering stakeholders, the IndiaAl Mission is well-positioned to pave the way for a transformative future where AI acts as a catalyst for progress and prosperity for everyone.

time-read
5 mins  |
April 2024
SOME ETERNAL SUTRAS FOR INVESTORS
Indian Economy & Market

SOME ETERNAL SUTRAS FOR INVESTORS

Indian Economy & M What's the best way to survive a financial crisis with your wealth intact?

time-read
7 mins  |
April 2024
Gold: An Excellent Diversification
Indian Economy & Market

Gold: An Excellent Diversification

Gold is priced in dollars. Inflation means the dollar is worth less in terms of purchasing power. That means it takes more dollars to buy gold, so the dollar price of gold goes up. What you may lose in the rest of your portfolio in terms of dollar purchasing power is made up in part or all from the profits you make on the higher dollar price of gold. James Rickards says owning gold will protect you from the ravages of inflation. You’ll have your inflation protection in place 24/7 and won’t be caught off-guard.

time-read
5 mins  |
March 2024
Balaji Telefilms Ltd. Reports Robust Earnings for Q3FY24, To release "Love, Sex aur Dhokha 2"
Indian Economy & Market

Balaji Telefilms Ltd. Reports Robust Earnings for Q3FY24, To release "Love, Sex aur Dhokha 2"

Balaji Motion Pictures’, a division of Balaji Telefilms Ltd.’s highly anticipated Love, Sex aur Dhokha 2 has been in the headlines ever since its announcement.

time-read
2 mins  |
March 2024
PHARMA STOCK: AT PINK OF THEIR HEALTH
Indian Economy & Market

PHARMA STOCK: AT PINK OF THEIR HEALTH

Pharma stocks are once again showing sign of strength as they have outperformed key equity indices.

time-read
10+ mins  |
March 2024
Sarveshwar Foods Ltd. Board Approves Fund Raise of up to ₹99 Crores
Indian Economy & Market

Sarveshwar Foods Ltd. Board Approves Fund Raise of up to ₹99 Crores

Sarveshwar Foods Limited, a leader in the business of manufacturing, trading, processing, and marketing of branded and un-branded basmati and nonbasmati rice, has announced that the board approved a fund-raise of up to Rs. 98.94 Crores by the way of issue of Up to 10,20,00,000 Fully Convertible Warrants convertible into equal number of Equity Shares of face value of Re. 1/- each, to persons belonging to non-promoter group persons at an issue price Rs. 9.70 per warrant, subject to approval of shareholders and other regulatory authorities, as may be applicable.

time-read
2 mins  |
March 2024