Budget 2023-24: Survey among more than 350 industrialists before the budget. 72 percent people said that there will be emphasis on employment generation. According to 88 percent, expenditure on infrastructure will increase in the country.
The Modi government's last full budget before the 2024 elections may see large-scale spending on capacity expansion and infrastructure. Care Rating has conducted a survey in this regard among more than 350 industrialists. Most of these businessmen feel that the government will increase expenditure in the budget and this can also create employment on a large scale in the country.
76 percent businessmen are positive about the country's economy According to the survey, 76 percent businessmen are positive about the country's economy, while 2 percent feel that negativity will dominate. On questions asked about the budget, 72 percent respondents felt that employment generation and inclusive growth will be its focus area.
Expenditure on capacity expansion is estimated to be up to Rs 8.5 lakh crore.
According to 88 percent, expenditure on infrastructure construction in the country will increase. Whereas 70 percent feel that announcements will be made to increase employment. Maximum 42 percent businessmen believe that the expenditure on capacity expansion can be up to Rs 8.5 lakh crore. There are also 17 percent who see this amount going above Rs 9.5 lakh.
More support for electric vehicles
In the budget, manufacturers of electric vehicles have expressed hope that in this budget the FAME scheme can be extended for future years. Under this scheme, subsidy is available on purchasing electric vehicles. At present this scheme is applicable till March 2024. Considering the demand, it is expected to be extended for at least one more year. Like some other states including Uttar Pradesh, subsidy can also be announced on the purchase of electric vehicles.
demand of pharma sector
Businessmen associated with the farm sector hope that if the government gives income tax exemption on investments related to research and development, then it will become easier for them in production. Apart from this, they also demand that the basic custom duty on imported medical products should be increased so that domestic production can be supported.
