By Dr. CA Mayur B. Nayak, Editor
On 1st February 2023, the Finance Minister (FM) presented the last full-fledged Union Budget of the present Government as India will go to polls in early 2024. The current Budget was against the backdrop of major global disruptions in the supply chain due to the Ukraine War, economic sanctions imposed by the USA, the Pandemic, and other natural calamities.
The good part is that despite all odds, the Indian economy is showing signs of resilience and faring better than other large economies. It was an opportune time for the Government to consolidate the measures taken so far and build on them to lay a solid foundation for a developed India. Cross sections of society were expecting some relief from the Budget. The January 2023 Editorial made an appeal to the Government to provide much-deserved relief to the Middle-class population of India which was hard hit during the Pandemic and is currently reeling under rising inflation. It is heartening to note the Government chose to provide some relief to the Middle-class and endeavored to enhance the Ease of Living in India.
However, it is observed over the years that all good intentions mentioned in the Budget speech may not be reflected in the fine print of the Finance Bill. In the words of Nani A. Palkhivala “India is the fabled land of contrasts, but there is no disparity so glaring and costly as that between the prized ends solemnly pronounced in the budget speech every ye
