Budget 2023 Reactions: According to Hiranandani MD, the budget should prioritize infrastructure spending

Union Finance Minister Nirmala Sitharaman will submit the Modi government’s final full-fledged Union Budget 2023 before the 2024 Lok Sabha elections.

Union Budget 2023: Union Finance Minister Nirmala Sitharaman will submit the Modi government’s final full-fledged Union Budget 2023 before the 2024 Lok Sabha elections. The strategy is projected to increase funding for infrastructure, defense, and logistics, resulting in windfalls for linked businesses. The Budget Session of Parliament began on Tuesday and will end on February 13th. The Parliament will reconvene on March 12 for the second half of the Budget Session, which will end on April 6.

Here are some people/business leaders’ pre and post-budget reactions:

“To combat air pollution in North India, the government should consider incentivizing the purchase and provision of Bio Decomposer Capsules and other equipment by the corporate sector, because small and marginal farmers may not be able to afford such innovative solutions,” says Dr. Jeewan Prakash Gupta, Chair of the PHDCCI’s Environment and Climate Committee.

Budget projections: “The world is experiencing layoffs and excessive inflation,” said Sharan Hedge, an angel investor. Budget’23 is expected to deliver some good news.”

He also revealed his top five budget expectations: an increase in the Basic Exemption Limit (BEL) of 2.5L, an increase in the 80C Limit, GST rate cuts on essentials, an expansion of the 80D Deduction Limit, and a relaxation of the LTCG Tax.

“Logistics cost in India is 13%,” says Niranjan Hiranandani, MD of the Hiranandani Group, of 2023 budget forecasts. If our multimodal transportation efforts succeed in the next 2-3 years, we will be able to lower logistics costs by 3-4% for every item in the country. More emphasis should be placed on further investments in roads, railroads, ports, airports, and highways… To make India a slum-free country, the emphasis must be on the slum rehabilitation project.”

Amit Paranjape, a technology entrepreneur, expects a budget.

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