Budget Highlights

Nifty at the beginning of Budget speech 17808, Nifty at the end of budget speed 17867

#Fiscal deficit for 2023-24 estimated at 5.9%. The Union Budget has fixed the fiscal deficit target for 2023-24 at 5.9 percent of GDP. This would represent a reduction of 50 basis points from this year’s fiscal deficit target of 6.4 percent. Total Revenue estimated at Rs. 27.20 Lac crore

# Encashment of leave limit raised to Rs. 25 Lacs (great boost for hotels and tourism, IRCTC, Indian Hotels, EIH ltd, EaseMyTrip.com to benefit)

#Personal Incometax: Exemption limit raised to Rs. 7 Lacs. Slabs reduced

# Concessions capped: Capital Gains on sale of house property capped. Govt proposes to make new tax structure as default tax option Govt proposes to cap deductions from capital gains on investments in residential houses to Rs 10 crore

# Direct Taxes: Compliance to be made smooth, next generation common IT form to be implemented. Presumptive tax regime for MSMEs and professionals up to certain limits

 

# Indirect to Taxes: Propose to reduce the basic customs duty rates on goods other than textile and agriculture from 21 to 13. Relief in custom duty to Mobile phone manufacturing. reduction in custom duty on chemicals used in Ethanol blending. Marine products, duty on key inputs reduced (Dixon Technologies to benefit) . Cigarettes get hit by a steep 16% increase in cess (Bad for ITC and Godfrey Philips)
# Govt to reduce customs duty on shrimp feed to promote exports (good for Avanti fee)

# Saving scheme for senior citizens limit enhanced to Rs. 30 L

# Mahila Sanman Saving Certificate for 2 years up to Rs. 2 L with 7.5%

#Reclaiming of Shares to smoothened

# Bank Governance to get priority. FM has not touched up on any key banking sector reforms including the long held promise of privatisation of public sector banks.

 

# 50 destinations to be developed for tourism (good for Indian hotels, Good for ITCTC, Indian Hotels, EIH ltd and other hotel companies,  EaseMytrip)

# Stipend to youth, huge allocation made

# Pradhan Mantri Kaushal Vikas yojna, new edge courses will be implemeted. Skill India centers to be set up

# Vehicle replacement, old polluting vehicles to be replaced for greening of economy, allocation for replacing government vehicles (strong boost for Automobile Manufacturers and ancillaries)

#Coastal shipping will be promoted

# One crore farmers to adopt bio-farming, Mangrove plantation on coastal areas

#Green Growth, 5th Priority, Green industrial growth, green hydrogen project to get boost (benefit to Adani Enterprises) Rs. 35000 Cr outlay)

 

#Lab-grown diamonds which generate employment to get grant

#E-courts: Phase 3 of Ecourts project to get Rs. 7000 Cr.

# KYC systems to be uniformed, Digilocker and Aadhar to get boost. Bring ease of doing business. Unified filing process will be setup on common portal.

#Make AI in India and Make AI for India, 3 AI centers to be started, 3 Private companies to partner

# Mission KarmaYogi to develop and improve skill of government employees

#40 additional airports, Waterdrom, to develop air connectivity. (huge boost for L&T, Steel companies, Cement companies and Infra sector companies)

#Capital outlay for Railways Rs. 2.04 Lac crores, one of the largest in the history of Indian Railways. Boost for IRFC, Raitel,  Titagar Wagons, L&T, Kalpataru Power, Steel sector companies like Tata Steels, & JSW steels)

 

#PM Aavas Yojna allocation increased by 66% Rs. 79000 Cr. (Boost for Cement and Steel companies).The 64 pecrcent increase in allocation for PM Awaas Yojana to Rs 79,000 crore will be a positive for commercial vehicles and tractors used for moving materials for construction.

#740 Eklavya Model Schools to be setup large recruitment of teachers. In the next three years, for Eklavaya Model Residential Schools, the Centre will recruit 38,800 teachers and support staff for 740 schools serving 3.5 lakh tribal students,

# Rs. 15000 Cr allotted for Vulnerable Tribal Group development

#National Digial library to be setup, National book trust and Children book trust to get boost. (Navnit Education to benefit)

 

# New Nursing colleges to be setup, New programme to promote pharma research (Fortis Healthcare moves up)

# Massive decentralised Storage facilities for storage of Agricultural output

# Inclusive development: 1st priority Sab ka Sath Sabka Vikas, Boost to Agriculture, Agriculture Accelerator fund to give support to Agri Startups. Global hub for Millets to developed, food security and welfare of farmers. (Fact, RCF, Bayer Crop Science Sharda Crop Science move up).
#New Sub scheme for fisheries.
# Green Growth conceptualized, Green Job opportunities.

# Boost to Tousirm which offers huge opportunity for job creation 

# PM Vishwa Karma Scheme conceptualized

@ FM claims this period of Economy to be Amrut Kal

@ 11.00 am, Union Cabinet approves the budget 2023 and now FM ready to start budget speech

Expectaions: The FM may also announce a plan for job creation in urban areas and assistance & loan scheme for gig workers. The budget 2023 is expected to come out with mega order for about 5000 wagons in the Budget worth Rs 23,000 crore.