WHAT CAN WE EXPECT FROM THE UNION BUDGET 2023?
Another year has gone by and there is a new topic making rounds in the market as soon as the New Year begins- Union Budget 2023. There are a lot of expectations and anticipations attached with the Union Budget as it largely influences the year ahead of a common man.
The investors of the market will take indications from the Budget 2023 that will be announced and plan their actions accordingly. It is important to note that this will be the last full budget before 2024 general elections.
The Budget 2023 will the most challenging for our Honorable Finance Minister Nirmala Sitharaman as the world as a whole is staring into global recession. The scars of the COVID-19 situation of the previous two years are just fading, but the updates from China have put everyone in a frenzy.
Following are some areas in which people are expecting amendments:
- Clean up of the present Capital Gains Tax Regime, which is currently very complicated.
- Boosting the Economic Growth of the country
- Measures to control the rising inflation
- Changes in the income tax rates
- Performing India’s climate commitments like decarbonization, renewable energy, the climate commitments of COP26 and COP27
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