What have been the hits & misses of Budget 2023?

[@cyrilphilip4641]

Excellent discussion. Kudos to TCA Sharad Raghavan and Radhika Pandey. Now Insurance companies will have to increase their marketing budget, offer diverse and bundled products. Earlier 80c deduction was a huge incentive for taking life and non-life insurance and free publicity for insurance products. Now the insurance companies may have to bear this additional cost. Coupled with the competition it can bring between insurance companies and the consequent reductions in premiums, profits may get squeezed in the short term. It also opens opportunities for new insurance startups,having lower documentation requirements and lower premiums. The switch to the new tax regime is nothing new. Various Direct tax Code committees in the past have signalled simplification, rationalisation, and enhanced compliance. The timing is the only factor that is interesting. A good step in ensuring the votes of urban, educated and employed youth in 2024.

[@abhinav05252]

First like the video and then start watching. This is the respect this show has earned.

[@joshua_ch]

While the budget numbers are realistic, i think we often forget that the real fiscal deficit of the country includes the states and that number will remain around 9%. At such high levels of fiscal deficit we will continue to face high cost of capital and pressure on inflation. The debt to gdp will continue to remain high, above 80%, for atleast two more years. We are in a holding pattern with real growth at around 6% and nominal at 10%, something extra is needed to push real growth to above 7% over the medium term. I hope exports and domestic energy production start giving significant results in three years time.

[@vivekanandholla6730]

Thank you for taking my question . Yes, my question was with when it is more lucrative to select the old tax regime . One can select 80D, 80C, has 50000 standard deduction and HRA, and housing loan exemptions. Other education loan exemptions etc. Will the new tax regime have HRA exemptions for instance ? If we add up most of these, is there a lower limit of these exemptions when the older regime is good or the newer regime is better ?

[@arkabanerjee1627]

Reducing revenue expenditure is must and increase in capital expenditure is must

[@Aditya18893]

Thank you so much shrad sir and radhika mam to take up my question, great episode again

[@abhijitdeshmukh6902]

On the Miss related to divestment - I think it was skipped in this budget to avoid wrath from bank unions/ labor unions. The idea I think is not to rub people on the wrong side even though it's a good policy. Another reason can be to avoid sucking liquidity from market since divestment of public sector companies pull lot of money from market.

[@arkabanerjee1627]

Excellent discussion

[@rajx7120]

The best thing is- increased disposable income from new tax regime, can now be invested in any instrument you want. Earlier, only select investments under 80C, and real estate was allowed for tax deduction. Now, people are getting rebates, right away, giving more flexibility.

[@dpfrmhell]

Good one!!

[@arkabanerjee1627]

Capital expenditure by govt takes lot of time from tendering.selecting contractors and actually doing the work ..most work done in fourth quater..so efficiency is must from states part..

[@radharanikiaparkripase6802]

Best analysis

[@Harsh-rf9k]

Except aditya no questions!

[@sureshchandrasarangi9878]

Superb way of explaining things which matter for each Indian.The command and control at which sharad Raghvan has put questions and madam has explained it in simplified manner enriches your experiences.

[@vandanadesai9996]

Why do,you use retro theme in video for important topics. So irritating. I lost confidence in the print

[@mohamedhabib8460]

Something very odd after Budget 2023: 1. FM Sitharaman proudly declared that under Modi Sarkar "India has doubled its Per Capita GDP in 10 years". This means annually the GDP grew barely 7.2%! But, most Indians wanted to grow in Double Digit to catch up with the Red China; here FM is mighty satisfied with about 7% growth rate average in a 10 year period. For a soft economy like India, this 7% a year growth is dismal, many Experts say. IF you compare Japan, Germany post WW II and China post Mao period. They had a torrid 15-20% GDP growth per year for at least 30 years! 2. Recently, Modi declared that 80.5 Cr Indians are eligible to get FREE grain, pulse & oil from Federal Govt. This is about 58% of the Total 140 Cr Population = These are the dirt poor who can't earn enough to buy their own food. Another 50 Cr Indians make much less than the Taxable Income leaving a very small sliver of the total who earn enough to pay for the Federal Income Tax (nearly 50% of this faction evade the Tax Man through various accounting gimmick going into the World of Black Money stashed in Offshore Accounts!!!). 3. So, when the FM says Per Capita GDP for 2023 i2 198,000 Rs per YEAR. This is the MEAN. What is the MEDIAN (middle point of the Population) or the MODE (more frequent number in the entire 140 Cr Population) is unknown to the Ministry of Statistics and Project Implementation. 4. Today, US declared that in Jan 2023, they added 513,000 Jobs and Labor Participation Rate is 63%! Where is the comparable data from India? In a digital (accounting) India, how come we can't extract the "Jobs Added" data for any previous month? Revisions can be announced a bit later, as in the US! FM focuses on the Formal Economy only. Where are the data from the INFORMAL Economy where 80% Indians are employed or semi-employed? MOSPI says that in the last 5 years ending in Nov 2022, India added a mere 3.9 million jobs in the Formal Economy (Govt and Private Company jobs where employees contributed for Pension System). During this same 5 year period, 14 million/y = 70 million Indians addition to the Total Labor Market, suggesting a very vast number of Indians are trapped in the unaccounted Informal Indian Economy. FM does not have any clue to tract this humongous Informal Sector in India! Pathetic in a Digital Age!!

[@dellhp9564]

For 10% growth you require large scale industrialization, rapid productivity growth. The greatest hindrance to industrialisation in India is lack of Land reforms. Another large part of economy where we are negativity productive is agriculture but MSP,fertilizer subsidy will take all the money

[@mohamedhabib8460]

@@dellhp9564 I put the emphasis on High Quality K-12 School education and healthcare for children under age 18. Education is under Concurrent List by the State & Union Govt. Now, I understand that State Govt takes care of K-12 Education, and Union Govt focuses on funding the College Education (under the banner of Higher and Professional College Education). While this arrangement is working for Advanced States like Kerala, Tamil Nadu, Karnataka, AP & Maharastra, in the most populous States of UP, MP, HP, Bihar etc it does not work optimally. Govt must figure out as to HOW to solve this BASIC ISSUE of Quality Education and Skill Development in the whole of India. Union Govt must shoulder the responsibility of encouraging both the Formal and Informal Sectors. Entrapreunership is the very KEY to Organic Growth in INFORMAL Sector. Unless the INFORMAL Micro Mini & Small Industries grow in torrid rate, India can't catch up with China, S. Korea, Taiwan etc etc. Maybe, India is cursed to struggle in the Lower Gear in a mud for a long time!! Wait & watch! :+)))))

[@dellhp9564]

@@mohamedhabib8460 How come Sri Lanka with such high quality basic education failed ??

[@karthik7486]

But how do you track informal economy? How do other countries track? I don’t think half the Kirana stores which earn well enough btw, don’t pay any tax. There are many near my home itself

[@mohamedhabib8460]

@@dellhp9564 SL failed due to 1. Due to Covid, their Tourism collapsed completely. Their Foreign Exchange Earnings went to zero. 2.Then, politically, they made a very Foolish Decision of growing only TEA ONLY in Organic Farming, which again failed spectacularly. Tea export was a main source of income for SL. This BOTH happened SIMULTANEOUSLY. So their Economy collapsed. 3. Same FATE for Pak. Humongous Flood destroyed their Agriculture far and wide. They were encouraging Terror Financing for a long time, which came to a grinding halt. So, they don't have foreign reserve for essentials. A similar situation CAN happen to India too, if our Monsoons fail for two consecutive years, and our IMPORTS outrun our EXPORTS under Modi Sarkar, as it happens today. So, the Moral of the Story is EVEN if the Basic Education and Healthcare is top notch, still Economies CAN fail spectacularly due to Natural Calamities like Covid and BAD decisions by Politicians! Political Economy is quite vulnerable in India, while the Top Salaried 1% Faction is in celebratory mood, ignoring the lurking dangers!! :D

[@hemikovsky]

Wow! what a waste of time! All pandit giri Prattles! How do you serve the people?