1 Feb 2023 , 03:27 PM
The budget recognized that it would have to continue playing the lead role in driving investments in the economy given the rising global risks and only a nascent recovery in the private capex cycle. The capital outlay for 2023-24 was raised to Rs 10 lakh crore, a rise of 33% year on year.
The budget also pays heed to the need for fiscal consolidation reducing its fiscal deficit target to 5.9% of GDP in 2023-24 from 6.4% in 2022-23. The resultant lower than expected market borrowing number is likely to bring some relief for the bond market. We see the 10-year bond yield to moderate towards 7-7.1% in FY24.
The budget also announced adjustments in income tax slabs that is likely to boost consumption and savings in the economy, benefitting taxpayers particularly at the lower brackets of the income pyramid.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.
Invest wise with Expert advice