In An Uncertain World, A Compassionate Budget

The document provides a vision for India@100, with inclusivity and prosperity as central facets. Further, while acknowledging external headwinds, it pushes for domestic growth drivers to spur development

Union Budget 2023-24 is bold in its ideas, yet conservative in its calculus, ambitious in its strategies, yet firmly anchored in reality. It successfully captures the uncertainties surrounding the global macroeconomic outlook, while providing a road map for fostering resilience and accelerating growth as the Indian economy moves towards Amrit Kaal.

This Budget is being hailed as a Budget for all, along the lines of sabka saath, sabka vikas with everyone, for the development of all), as it has something to offer to all sections of society. The focus of the Budget has transitioned from facilitating recovery of the Covid-affected economy in the last two years to laying down both hard and soft tracks for increasing economies of scale and ensuring long-term growth.

The document provides a clear vision, as given by Prime Minister Narendra Modi, of the kind of society India aspires to be in 2047.

India@100 will rest on the pillars of inclusivity and prosperity, where fruits of development reach all regions and citizens, especially our youth, women, farmers, Other Backward Classes, Scheduled Castes, and Scheduled Tribes.” As reflected through the first two priorities of inclusive development” and reaching the last mile”, the Budget lays out several measures for empowering vulnerable tribal groups, women, youth, and micro, small, and medium enterprises.