Business Standard

Abolish exemptions

Instead of reducing tax rates, Budget 2023 should take steps to reverse the decline in tax buoyancy


Illustration: Binay Sinha

A K Bhattacharya
Finance Minister Nirmala Sitharaman has begun her annual consultations for finalising what would be her fifth Budget, to be presented on February 1, 2023. This will be a significant exercise for more than one reason.

It would be the first Budget after what appears to be a gradual retreat of the Covid-19 pandemic that had seriously affected Budget-making for the last two years. But more importantly, the Budget for 2023-24 will be prepared against the backdrop of high inflation, unemployment, hardening interest rates and a geo-political crisis caused by the Russia-Ukraine conflict, which is adversely impacting not only the crude
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of or the Business Standard newspaper

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Nov 22 2022 | 11:00 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to