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Decoding India's Union Budget 2023-24: What’s In It For BusinessesMultimedia
Umair Ul Haque
Assistant Manager, International Business Advisory
Amid the ongoing global headwinds triggered by external factors like post-pandemic spillovers, supply chain disruptions due to the ongoing Russia-Ukraine conflict, and possible recessionary pressures facing developed economies, the Indian economy has stood resilient and is well on its way to register growth rate of seven percent in the ongoing fiscal.
To further support India’s target of becoming a US$5 trillion economy, India Inc. has high hopes for the Budget 2023–24, particularly in regard to its promotion of tax reforms that promote ease of doing business and its continuation of CAPEX with an emphasis on infrastructure.
Industry observers anticipate that the forthcoming budget will accelerate India's economic growth by bolstering supply-side capabilities and addressing demand imbalances. Inflation has been a sticky issue affecting consumption, and the upcoming budget might see a reduction in some taxes, both direct and indirect to boost consumption patterns.
Adv. Naina Bhardwaj, India Briefing and Asia Briefing Editor, discussed the impact of India’s Union Budget 2023-24 on foreign companies doing business in India while outlining key aspects of India’s investor-friendly business ecosystem. We invite you to join us in this webinar to decode key budget announcements and understand their implications for various industries, businesses, and individuals.
Naina addresses the following areas:
- India’s Economic Outlook Union Budget 2023–24 Overview
- Direct and Indirect Tax Incentives
- Key Sectoral Announcements
- FDI Related Announcements
- Major Takeaways
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