Telugu Super News,Hyderabad,February 1,2023:The budget recognised 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. capital outlay for 2023-24 was raised to INR 10 lakh cr, 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