The government's emphasis on consumption, infra and capex push boosted sentiment but sell-off in insurance stocks due to the new tax regime blew off the gains
There is plenty in the Budget for electric vehicles and domestic manufacturing, like provisions to further push scrapping of old vehicles and increase in customs duty of imported vehicles
Minus exemptions, the new structure might incur a greater tax liability than the older one
New sectors including toys, leather and renewable energy expect announcement soon
The number is around 21 percent lower than the estimates of the previous fiscal, which the government is lagging despite a reduction
Budget 2023 may be populist, but not because of personal tax rejigs or a social welfare focus