UNION BUDGET 2023

Budget 2023 Expectations

  • The ailing sector seeks support from FY 24 Budget

    Expects reduction or removal of excise duty on ATF.

    The aviation sector is among the worst hit sectors from 3 years of Covid lockdowns and restrictions. The sector is therefore expecting some significant relief measures in FY 24 budget. One expectation is that the budget will lower the excise duty on Aviation Turbine Fuel (ATF). Reduction in this excise duty will bring down the fuel costs for airline companies. Fuel costs make up for around 18%-20% of total operating costs of airline companies.

    Another expectation is that the Government will continue to provide budgetary incentives for the UDAN scheme. This scheme focuses on development of airports in smaller towns and cities. This scheme has achieved a fair degree of success till now in improving regional connectivity and airport infrastructure. Number of operational airports in the country have increased from around 70, at the start of this scheme, to more than 140 now.

BUDGET BLOGS


Key Highlights:

  • Boost to Capital investment Outlay for 3rd year in a row with inclusive development through universalization of schemes;
  • The rapidly expanding tech-savvy population and large pool of engineering and data science talent are driving g...

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ECONOMIC SURVEY


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TAX CALCULATORS

BUDGET REVIEW 2022

KNOWLEDGE CENTER


The Union Budget of India contains a list of financial proposals and estimates and is generally referred to as the ‘Annual Financial Statement’ under Article 112 of the Constitution of India. As the name states, the country’s budget is prepared for a respective financial year which involves estimates of earnings from revenues and expenditures of the government...
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BUDGET GLOSSARY


  • AD-VALOREM DUTIES

  • ANNUAL FINANCIAL STATEMENT

  • APPROPRIATION BILL

  • BALANCE OF PAYMENTS

  • BALANCE OF TRADE

BUDGET FAQ'S

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