Manufacturing exports can gain from India’s empowerment push
Enablers in India’s 2022-23 budget could work in concert with other initiatives to serve as boosters
Budget 2022-23 unveiled on 1 February carries forward the government’s vision of empowering Indians and enabling economic activity. The economic vision of the government, since the onset of the pandemic has been based on the following underlying philosophy: ameliorate the sufferings of specific sectors and households by empowering them to ride out difficult times and emerge stronger, so that they can prosper in the boom times to follow. Its long-term growth vision since 2019 has been to revive economic growth through public investment in infrastructure (physical and digital) and reasonable tax policies that encourage capital formation and employment generation.