By Nilesh Shah, Group President & MD, Kotak Mahindra Asset Management Co. Ltd
This budget is focused on supporting growth through encouraging investments and encouraging entrepreneurs, start-ups and taxpayers by creating trust.
Capital expenditure has moved from 12% of the budget in FY 15 to 19% of the budget in FY 23. Revenue Receipt growth at 6% is significantly lower than 27% last year. This is driven by significantly lower divestment and asset Monetization target. Hopefully, there is an upside on revenue receipts.
This budget is about laying the foundation for the positioning of the centenary of India. 68% of defence capital allocation to local manufacturers, the launch of CBDC, focus on organic farming and environmental issues/climate change, developing logistics in India, digital banks and futuristic policies like battery swapping or interoperability standards etc will be the building blocks on which India will march in its 'amrut kaal'.
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