Budget 2023 Expectations: What do these companies expect?

first part of budget session 2023 It is expected to continue till February 10. The full session is likely to begin on January 31 and is expected to end on April 6 with a break in between.

Different regions have different expectations from the budget, let us see what different organizations expect from the below mentioned organizations.

1) Chandru Kalro, Managing Director, TTK Prestige

TTK Prestige MD said, “The last few years have seen unprecedented volatility and India has outperformed most major global economies thanks to some very good policy moves by the government. I expect the budget to stimulate demand Will happen as we are seeing some slowdown in the second half of FY23.

The broad focus of the budget should continue to drive growth with a focus on local manufacturing and exports, in sync with the ‘Make-in-India’ agenda. The supply side has been managed well and the demand side needs more attention.

Inflation has been tough and difficult for the large section of the society and the government should reduce some of the taxes both direct and indirect so that more money is available with the people.

The middle class is the backbone of the economy. They are the main drivers of consumption and economic growth and require special attention. Government should consider giving tax benefits to middle class consumer, salaried employees who have always paid their taxes honestly. This will have a significant impact on their finances and expenses. This will leave them with additional disposable income in hand which will help increase consumption and boost the economy. Thus, I would love to see some tax exemption for this section of the society in the budget.”

2) Ravi Subramanian, MD & CEO of Shriram Housing Finance Ltd.

He said, “Housing for all has been one of the most important initiatives driven by the Government of India. We expect the government to continue building on this to emphasize the importance of schemes like PMAY. The housing segment INR 8-15 Lakhs and borrower income of less than INR 3 Lakhs per annum is the segment where the need for adequate housing is acute. To address the demand-supply mismatch in rural housing, we offer to customers/builders in this segment Some expect special incentives for consumers With limited projects here, any benefit from the government will help ease concerns over both supply and affordability.

In addition, Section 80C and Section 24 limits for principal and interest deduction on home loans are also expected to be amended. With inflation rising in the last few months, the manufacturing cost has gone up, and any rationalization of these limits will help the end consumer.”

3) Bipin Preet Singh, Co-founder and CEO of Mobikwik

“The upcoming budget will undoubtedly be geared towards boosting the growth of the Indian economy, but it also needs to address the challenges faced by the common man and the salaried class as we recover from a global pandemic and the ongoing global economic crisis.” dealing with the recession. People are pinning their hopes exclusively on upcoming budget To solve the issue of unemployment, control inflation and make essential goods and services more affordable. Salaried class looking for some cheer on personal tax front, hopes of raising annual basic exemption limit 5 lakh from existing 2.5 lakhs.”