Budget 2023-24 Preview - Capex To Remain At Centre Stage: ICICI Direct

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Direct Report.Union Budget for FY23-24 is likely to bring back the focus on fiscal consolidation after being fiscally expansionary to support growth recovery post the Covid-19 induced pandemic. We expect fiscal deficit at 5.8% for FY24 from 6.4% as budgeted in FY23. Overall focus will, however, continue on the growth agenda via higher capex allocation that will accelerate the investment cycle and employment. The buoyancy in tax revenues is expected to normalise in FY24 and likely be a tad above gross domestic product growth at 11.6%. While growth in gross tax revenue is likely to moderate, the subsidy outlay is likely to also reduce significantly. Subsidy towards food, fertiliser and petroleum, which had increased substantially in last three years to come down sharply. For FY24, it is expected at 1.3% of GDP versus 2.2% in FY23..Click on the attachment to read the full report:.Union Budget 2023-24 Preview - Capex Focus To Stay But Rural Thrust Also Likely: Nirmal Bang.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Budget 2023-24 Preview - Capex To Remain At Centre Stage: ICICI Direct

We expect fiscal deficit at 5.8% for FY24 from 6.4% as budgeted in FY23.

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