Views by Sachit Nayak, Country Controller & Finance Director, Eaton, on Budget 2023

By Sachit Nayak, Country Controller & Finance Director, Eaton, India.

The pathbreaking budget would drive the Indian economy and deliver on Amrit Kal’s goals. FMs seven saptarishi is a step in the right direction and aptly will catapult the Indian economy to newer heights. FM has touched major segments wherein significant investment outlay has been budgeted that are growth drivers i.e. Infrastructure, Railways, agriculture, MSMEs, cooperatives, etc. another notable thing is the discipline to get the fiscal deficit to under 4.50% progressively in the next 3 fiscal years. Middle-class income taxpayers would be in a happy camp with 5 key measures. This should help drive consumption thereby fueling growth in the economy. Reducing basic customs duty structure, simplifying tax structure, and several sops for agriculture & cooperatives are positives. Overall, I will classify this as a growth budget, which will lead to ease of doing business and attract investments.

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