Decoding Budget 2023
Although the budget is declared or unveiled to the public on 1st February every year in the parliament, it comes into effect from 1st April only. Just as a company must prepare its income, expenses and growth reports yearly, similarly it is vital for a nation to do so. The budget is evaluated or built based on taking into consideration of 3 major points: the amount the nation is going to earn, the amount the nation is going to spend and what will be the focus of the nation in the coming year. This year the prime focus of the budget was on Fiscal Consolidation, the tremendous increase in capital expenditure and changes and rebates in the new Income Tax Regime.
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