Union Budget 2023-24 has provided a cushion to the economy by bolstering public spending on infrastructure. The 33% rise in capex at Rs 10 lakh crore would further boost economic growth and create more jobs.
Considering that global headwinds are strong and uncertainties remain rife, the move would ensure the economy is not impacted much by the looming slowdown in advanced economies.
The tax relief to the middle class would enhance spending power and spur consumptions thus providing support to the economy. The indirect tax proposals are aimed at aiding exports. All in all, the budget is set to lift sentiments and give impetus to growth.