India Budget 2023 Expectations, Live Updates: Every one in four Indians is concerned about the threat of job layoff while three out of four are worried about rising inflation yet half of them believe that the country’s economy will grow in 2023, according to a survey by marketing data and analytics firm Kantar. In its second edition of India Union Budget survey, Kantar found that consumers expect an announcement in policy changes with respect to income tax, with increasing basic income tax exemption limit from the current Rs 2.5 lakh being the most common expectation.
The Budget Session of Parliament will begin on January 31 and extend till April 6. According to the Ministry of Parliamentary Affairs, the session will have 27 sittings over 66 days with a recess from February 14 to March 12. The Union Budget will be tabled on February 1, as per the convention.
Stock market investors are expecting a balanced Budget with a focus on job creation, increased spending on infrastructure, reigning in the deficit, and bringing the economy back on track, experts said on Wednesday. Stock markets have been subdued in the run-up to the Union Budget with BSE’s benchmark Sensex is almost flat so far this month. Even the corporate earning season failed to excite the markets, while some indices like IT and bankex have seen some positive movements. The muted performance of the markets could be due to Foreign Portfolio Investors (FPIs) moving funds out of India as they are looking for emerging markets with cheaper valuations. They have taken out over Rs 16,500 crore from domestic equities so far this month.