“The union budget 2023-24 is a growth oriented budget and the FM has checked all the boxes – from consumption to capex to spending to middle class to industry. The income tax benefits announced will boost purchasing power for middle-class consumers. It’s a capex-heavy budget, with an announced 33% increase in capex, which will boost infrastructure, logistics and the transportation business. The government’s focus on Ease of doing business and the expanded corpus for the credit guarantee will mean MSMEs have a lot to gain from this budget. Agriculture and rural development have been given detailed attention which should boost the rural economy and consumption. I believe the announcements made will trigger a pick-up in credit off take for small enterprises, the consumption-driven 2w business and lending to transportation.” – Mr Umesh Revankar, Executive Vice Chairman, Shriram Finance on Union Budget 2023.
