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Business

Budget -23  is a growth-oriented, visionary budget–CA Julfesh  Shah

by TLN Team February 1, 2023February 1, 2023
written by TLN Team February 1, 2023February 1, 2023
Budget -23  is a growth-oriented, visionary budget–CA Julfesh  Shah

With focus on 7 point program in Budget,it seems to be a prudent, pro-growth, progressive budget with a long  term vision.Special emphasis to support  MSMEs & Start-ups  is announced which will boost  the ailing  MSME sector.

Credit Guarantee Scheme for MSMEs will extend 2 lakh crores funding without collateral security &  decrease in rate of interest by 1% which will prove to be game changer for liquidity  of cash crunch MSMEs.If payment is not made to MSMEs it will not be allowed as expenditure which will enhance the cash flow of the MSME.Changes in personal income tax indicates that Govt wants to promote  new tax regime as all announcements  are made in new tax regime & no change  in  old tax regime.

Infrastructure investment is given a massive allocation with stress on green growth to achieve zero carbon emission. Railways has been allocated Rs 2.40 lakhs crores which will be helpful in developing  to ancillary & small entrepreneurs  Steps to promote Financial literary,skill development Schemes  & ease  of doing business has been announced but execution  needs to be done  properly to get actual benefits.

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