Although the defence budget has grown by 13% to ₹5.93 lakh crores, half will be spent on salaries and pensions—underlining the need to cut staffing flab. Agniveer was a step in the right direction, but more needs to be done to ensure India can afford the military teeth it needs.
Income tax cut for wealthy is a smart, but also bold politics in an election year
Reduction of the personal income tax of the wealthy from 42.7 to 39 per cent is smart but also bold politics in an election year. FM Nirmala Sitharaman reminded everyone that India is among the highest in the world in taxing the rich. Bringing it down now shows political confidence.
FM Sitharaman in Budget 2023 successfully walked the tight-rope. Tax relief will win votes
Finance Minister Nirmala Sitharaman has in Budget 2023 successfully walked the tight-rope between populism and fiscal pragmatism, while also incorporating significant impetus to boost economic growth. The income tax relief is sure to win this government some votes while the commitment to lower fiscal deficit targets should assuage economists’ unease.