Understanding Union Budget 2023 – 24
Our faculty members dive into Union Budget 2023 – 24 to share economic, health, and environmental perspectives
Amit Basole, faculty member, Azim Premji University, analyses the increase in capital expenditure and how it can have a multiplier impact on the economy. He also raises some interesting points on raising the exemption limit on personal income tax and the resulting shift towards indirect taxes.
Edward Premdas Pinto, faculty member, Azim Premji University, evaluates the allocation for the healthcare sector. While this year there has been an increase in the budgetary outlay, INR 89,155 crore has been allocated for the health sector up by about INR 2,955 crore from last year. Yet, Edward points out the challenges in only looking at the outlay and not evaluating the actual expenditure.
Harini Nagendra, faculty member, Azim Premji University, talks about the greener aspects of the budget, especially on the emphasis on renewable energy and green energy. She also talks about how the next few years are critical for India in terms of combating the effects of climate change and how every action towards a sustainable future is a welcome one.
Rosa Abraham, faculty member, Azim Premji University, analyses the various provisions that have implications for India’s labour market. Using the learnings from the State of India Report, she looks at
- the larger picture of young workers from the labour market that did not return to employment even after the economy had started settling down post the COVID-19 pandemic.
- how a direct benefit transfer announced for about 47 lakh youth can potentially bring back these workers into the labour market.
Zico Dasgupta, faculty member, Azim Premji University, highlights the change in the composition of expenditures from revenue to capital expenditures. He also touches upon the change in the composition of the taxes in favour of indirect taxes.