Budget 2023 aims at providing a stable direct tax regime

At the domestic front, the government presented its last full budget wherein it had to maintain a balance in fueling growth trajectory, while being on the path of fiscal prudence, say analysts

The Union Budget 2023-24 was presented in the backdrop of global economic headwinds, inflationary pressures, almost a year-long Russia-Ukraine conflict, and global shift in supply chains. There is an increased global focus on use of green energy as well as evolution and adoption of new technologies around Artificial Intelligence and related innovations resulting in ever-increasing technology led societies. 

Governments across the globe have also been focusing on funding post pandemic recovery, which has put pressure on budgetary capacities. At the domestic front, the government presented its last full budget wherein it had to maintain a balance in fueling growth trajectory,