Finance Minister Nirmala Sitharaman announced the 2023-24 Budget in Parliament on February 1, 2023. While presenting the Union Budget in Lok Sabha, FM said the Indian economy is on a "right track and heading towards a bright future".
According to Madhu Kela, Founder of MK Ventures, “It is an absolute big thumbs up from the market perspective.”
“Markets will do very well. You just have to choose the right stocks. I would choose India-facing companies, companies which are linked more and more to the economy rather than choosing companies which are linked to global sectors,” he further mentioned.
Kela believes FM has delivered on every count the market could have expected her to deliver.
Various parts of the world are facing recession or the fear of recession. He thinks by frontloading the expenditure, India possibly could avoid it and come out with flying colours.
The amount of inclusiveness, included in this Budget, from medium-term to long-term perspective reaffirms Kela’s belief in India.
Sitharaman highlighted seven priorities of Budget 2023 saying "they compliment each other and act as Saptarishi guiding us through the Amrit Kaal."
The Centre has pegged the fiscal deficit for 2022-2023 and 5.9 percent of GDP for FY24, FM said.
