Insights of the Union Budget 2022-23
Our MD and CEO R Mukundan shares his views on the Union Budget’s impact on industrial growth and social development
This is a growth and infrastructure-focused budget and the Union government has made its intention clear by pushing up capital expenditure to boost robust growth. At the same time, the government has maintained continuity in terms of policy framework and continued the process of simplification and standardisation including in the area of taxation. These will reduce litigation that will boost domestic manufacturing, exports, and investments. There are further major thrust in areas like sustainability and green technologies, digital technologies, urbanization, and logistics. This also indicates the country's motion towards new-age technologies and industries as emphasized by the Finance Minister.
It is also imperative to note that the government has started many programmes outside of the budget process that boosts the availability of water, housing, and connectivity for all, and the budget continues to support those missions.