Business Standard

Budget 2023: Govt likely to avoid populist measures; tax tweaks possible

FM Sitharaman is unlikely to tinker much with tax rates, yet will also steer clear of populist measures, according to economists surveyed

Rupee, Indian Rupee, Indian currency
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Anup Roy & Tomoko Sato | Bloomberg
India’s government will look to maintain its pace of spending to bolster growth as it leans on asset sales while shunning subsidies to shrink the deficit, according to a survey of economists.
Finance Minister Nirmala Sitharaman will likely increase expenditure by about 12.5% year-on-year to 44.40 trillion rupees ($544 billion) in the year beginning April, according to the median of estimates in a Bloomberg survey ahead of the Feb. 1 budget.

The fiscal gap is expected to narrow to 5.9% of gross domestic product, from 6.4% in the current fiscal year, according to the survey median. The government is expected to

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First Published: Jan 27 2023 | 7:05 PM IST

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