Business Standard

Abolish exemptions

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

illustration
Premium

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 www.business-standard.com 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 business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com