A Sneak Peak into Indian Budget 2023 from Management Students' Perspective
The Annual Indian Budget for the fiscal year 2023–2024 was presented by Indian Finance Minister Smt. Nirmala Sitaraman on the 1st of February. This year’s budget has received mixed reactions from various sections of the society. When everyone is sharing their opinions about the budget, the Management students at KL Deemed to be University also discussed and shared their take on the same. Let’s find out what they have to say!
PNVS Ganesh, 1st year, MBA, 2023
It's a Groundbreaking budget. The seven priorities or "Saptarishi" would contribute to India's Future.
Spotlights of the Budget: Social entrepreneurship, employment generation, and infrastructure development, which helps India to step towards Inclusive Development.
KSS Krishna Chaitanya, 1st year, MBA, 2023
Our Finance minister has incredibly tabled the annual economic survey, which is a report card for the center to review how the economy has fared in the past year.
P. Ram Charan, 1st Year, MBA, 2023
It’s a very stable, prudent, and growth-oriented budget. There was an emphasis on higher capital spending with a focus on growth and the provision of special benefits for the MSME sector. No increase in long-term capital gains tax and push towards new tax regime. The market is also hopeful of a change in the income tax structure; the budget provides impetus to the financial sector.
Datla VaraLakshmi, 2nd year, MBA, 021- 2023
In my opinion, the recent budget in India for 2023 is a positive step forward for the country. It focuses on areas such as infrastructure, health, education, housing, and digital technologies, which are critical parts of economic growth. The budget also provides relief to the middle class with tax exemptions and other measures and encourages investment in the economy. Overall this budget is a sign that the Indian government is committed to creating a better future for its citizens.
K. Sai Geetha Sri, 1st year, MBA 2023
Union Finance Minister presented her last full-fledged budget before the 2024 Lok Sabha elections in Parliament on 1st February. Budget 2023 focused on raising capital expenditure by the government, fiscal consolidation, and attractive incentives and rebates in the new income tax regime. She also mentioned that the GDP growth was estimated at 7%. She also mentioned that 157 nursing colleges are about to come, and capital investment outlay will be raised by 33%.
Sankepalli Mounavi, 1st year, MBA, 2023
The aim is to have strong public finances and a robust financial sector for the benefit of all sections of society. Presenting the Budget 2023-24, the Finance Minister has laid down the seven pillars of Saptarishi to usher growth and development.
Reaching Last Mile| Infrastructure Investment| Unleashing Potential.
D. Sreepriya, 2nd Year, MBA
This year's budget is beneficial mainly for Taxpayers, railways, Startups, NHAI, and Capex. The" SAPTARSHI" is a big booster for achieving the nation's vision of "AMRITKAAL." This entire framework is expected to a greater positive change in the economy.
K. Satya Havilah, 1st year, MBA, 2023
Budget 2023 pushed for greater adoption of the new tax regime in a big way by reducing the number of tax slabs, increasing the basic exemption limit, raising the threshold for a full tax rebate, and lowering the surcharge for incomes above Rs 5 crore.
All the aspects of the Government Budget and its components make it highly essential for any economy. Its drafting requires a plethora of resources and hard work from all the officials involved, as it’s a year-long process and requires scrutiny.
Ajay Gonnabhaktula, 2nd year, MBA
The Indian Budget 2023 focuses on enhancing infrastructure, strengthening the healthcare sector, and boosting the country's overall economic growth. The budget also allocates significant funds toward agriculture and rural development with an emphasis on digitization and modernization in these sectors. The government has proposed several reforms in the education sector, including setting up a National Recruitment Agency for the selection of non-gazetted posts and introducing a new education policy. The budget aims to make India a self-reliant nation and improve the ease of doing business.
Rishitha Jaladi, 2101510034, MBA (2021-2023)
Budget 2023 has some good aspects which need to be appreciated and some concerns that need to be looked into and addressed. The budget has been a huge relief for the middle class. It focused on economic growth, job creation, and reduction of fiscal deficit.
T Holika, 2nd year, MBA.
This year's budget is more beneficial to middle-income groups, it is observed that there is a huge reduction in tax slabs. There is a focus on tourism and green growth. The key highlight of the budget is Saptharishi.
Dr. Balaji Chintala, Assistant Professor, KL Business School.
The recent budget has been praised for its focus on investment activities, health care, and job creation. There is a strong emphasis on infrastructure spending, which is expected to boost the economy and create jobs. The budget also includes several tax exemptions, including a reduction in the corporate tax rate, which will encourage investments in businesses. Overall, this budget appears to be a positive step towards helping the economy for a better future.
