“This is the first Budget of Amrit Kaal, and we believe that this is a budget aimed at fostering growth. We are sure that the huge rise in capital expenditure by 33% will have an incremental effect on the overall growth of the economy. Infrastructure sector is the backbone of any economy, and the government has been pushing for the sector’s growth for its multiplier effect and linkage effects in terms of job creation. Infrastructure and development are among the seven priorities of the Budget 2023. The newly announced one hundred critical transport infrastructure projects will help the country to ensure energy and food security as these are critical for India as it targets to become the third largest economy in the world in the next 6-8 years. The government has also decided to inject 2.40 lakh crore in railways in order to derive the positive outcome on environment sustainability.”
“As Budget 2023 focuses on promoting coastal shipping, it will play a critical role in the economy’s competitiveness, expansion, and long-term sustainability, which is an under tapped sector at the moment. Also, the announcement of 100 Labs for developing applications using 5G services will bring in changes across the transport sector including increasingly smart and efficient logistics and improved urban transportation with the implementation of Mobility as a Service (MaaS) platforms. The Budget 2023 has demonstrated a good balance between today’s needs and the future’s demand.”
