Budget 2023: Major highlights from Finance Minister Nirmala Sitharaman’s speech

The budget 2023 presented by Finance Minister Nirmala Sitharaman focuses on capex and infrastructure development, with an emphasis on empowering the common man, women and senior citizens, while also pushing for green energy and healthcare initiatives.

Gaurav Sharma, MintGenie Team
Published2 Feb 2023, 11:57 AM IST
New Delhi: Union Finance Minister Nirmala Sitharaman shows a folder-case containing her Union Budget 2023-24 speech as she arrives at Parliament, in New Delhi, Wednesday, Feb. 1, 2023. Sitharaman will be presenting her fifth Union Budget. (PTI Photo/Kamal Singh)   (PTI02_01_2023_RPT098B)
New Delhi: Union Finance Minister Nirmala Sitharaman shows a folder-case containing her Union Budget 2023-24 speech as she arrives at Parliament, in New Delhi, Wednesday, Feb. 1, 2023. Sitharaman will be presenting her fifth Union Budget. (PTI Photo/Kamal Singh) (PTI02_01_2023_RPT098B)(PTI)

Nirmala Sitaraman candle and her angle to budget is the capex of 10,00,000 crore in 2023-24 with decrease in fiscal deficit of just 5.9%, much less as compared to previous 6.4% and more to this is the confidence of the finance minister, confidence that she will bring it down to 4.5% by next year.

The common man is set to benefit from capex plans to grow the Indian railways with 2.4 lakh crore, 50 additional airports, and a fully planned udaan scheme.

You will also be thrilled to know that state governments will get 50 years tenure interest free loans for development of infrastructure and living standards in states, 10,00,000 crore for urban infrastructure development fund managed by national housing bank and 7000 crore for E-courts for a robust judicial system.

This Union Budget also instills a proud feeling as Indians seeing the confidence of the presidency of G20 summit towards a fast pace growing economy just entering in Amrit Kaal. This budget will be the landmark and a memorable event, more to this is domestic tourism ‘Dekho Apna Desh’ that is empowering the youth and encouraging the ‘skill india’ setup.

Women & Senior Citizens also benefit from the budget, through the announcement of Mahila samman deposits certificate for two years at 7.5% interest per annum and increased limit for senior citizen scheme from 15 lakh to 30 lakh.

Another special nuance of this particular budget is the government's focus on replacing old vehicles, push to green energy hydrogen fuel to 5 million tonnes, decrease in custom duties for EV components and lithium.

Healthcare is also an area to focus on, and right at the start of the speech came a resolution to stop and cure sickle cell anaemia, and grow exports of shree anna, especially millet.

For the common investor to try to think like a smart investor and know which sectors will be benefited through the budget can narrow down their approach to our research reports highlighting sectors which are for social cause and in alignment of Indian economic growth story such as: Agritech sector, Fintech companies, Infrastructure related Invits or Reits, Lab made diamonds, Electric vehicles components and Lithium Batteries, Rural Development, New startUp ideas which are working on Hydrogen Fuel and Affordable housing schemes.

In order to get maximum value from the event market participants wait to join the rally and smart money always waits for negative news to accumulate quality stocks available at discounts.

One such discount came around 1 pm on 1st February when there was a rumor that a Swiss bank denied taking Adani bonds as collateral, because of which the investors decided to take positions in the stock market.

The Swiss bank asked their clients to either square up their positions or deposit some other collateral that started the panic selling in Adani shares today, triggering a lower circuit after every 15 minutes which changed the overall sentiments of the market and bank stocks started falling.

It seems from the data that smart investors accumulated the stocks at lows because of which stocks and the indices recovered from the lows.

Much more things and many versions of the budget will come after the Fed Event on 1st February midnight.

Gaurav Sharma, smallcase manager and founder at GauravSir.in

Budget 2023: Highlights for receipts and expenditure
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First Published:2 Feb 2023, 11:57 AM IST
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