A growth oriented Budget, forms basis for a structural rally in markets

It has been an extremely pragmatic Union Budget 2022-23 trying to create the right ecosystem for putting the Indian economy on a high growth

Budgets are normally classified with different nomenclatures like growth oriented budget, middle class budget, an accountant's budget, an economist's budget, philosopher's budget etc. The Union Budget 2022-23 is clearly an attempt to boost growth.

Capex boost is the right step
The government capital expenditure target for FY23 has been hiked by 35 per cent to Rs 7.5 trillion and if the grant-in-aid for creation of capital assets is added, the effective capex is going to be Rs10.68 trillion. At a time when the capital investment cycle needs a strong boost, this move from the government is ambitious and also