{"id":5483,"date":"2023-01-26T17:32:48","date_gmt":"2023-01-26T17:32:48","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=5483"},"modified":"2026-04-14T04:31:53","modified_gmt":"2026-04-14T04:31:53","slug":"union-budget-2023-expectations","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/","title":{"rendered":"UNION BUDGET 2023: EXPECTATIONS"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The 2023 Union Budget will be influenced by a number of issues, including the unstable global economy, rising inflation, declining private consumption, and slower GDP growth. The general elections, which will be the last complete budget of the administration before the Lok Sabha election in 2024, are the one element that supersedes all of the aforementioned factors. Thus, it is clear that there are some high expectations this time around. Despite the government&#8217;s temptation to announce a budget that boosts populism, its main priority will be on balancing the ACT.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/#WHAT_TO_EXPECT_FROM_THE_PRE-ELECTION_BUDGET_OF_THE_GOVERNMENT\" >WHAT TO EXPECT FROM THE PRE-ELECTION BUDGET OF THE GOVERNMENT?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/#INCOME_TAX_RELIEF\" >INCOME TAX RELIEF\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/#BOND_MARKET\" >BOND MARKET<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/#Fiscal_deficit_and_Borrowing_Outlook\" >Fiscal deficit and Borrowing Outlook<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/#Sovereign_Green_bonds_and_Debt_funds\" >Sovereign Green bonds and Debt funds<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/#Inclusion_of_Indian_bonds_in_global_indices\" >Inclusion of Indian bonds in global indices<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/#Sovereign_Bonds\" >Sovereign Bonds<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/#Inflation\" >Inflation<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/#Summary\" >Summary<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"WHAT_TO_EXPECT_FROM_THE_PRE-ELECTION_BUDGET_OF_THE_GOVERNMENT\"><\/span><strong>WHAT TO EXPECT FROM THE PRE-ELECTION BUDGET OF THE GOVERNMENT?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">One of the announcements might concern an effort to promote local manufacturing. Following a <a href=\"https:\/\/goldenpi.com\/blog\/essentials\/how-is-it-when-the-world-is-in-recession\/\" target=\"_blank\" rel=\"noopener noreferrer\">global economic recession<\/a>, India&#8217;s atma nirbhar, or self-reliance, would be put to the test. In this situation, the government will be eager to increase local manufacturing to meet home demand, cut imports, and draw in foreign <a href=\"https:\/\/goldenpi.com\/blog\/essentials\/what-is-capital-preservation-and-when-does-it-matter\/\">capital.<\/a> The PLI plan&#8217;s scope, which presently covers 14 industries, might also be expanded to other areas with strong employment potential. However, a bigger allocation to the PLI scheme seems to be the natural choice given rumors that the entire budget outlay for the scheme will increase by 20 to 30%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Another possibility is increased spending on welfare and rural areas. If figures from the previous pre-election budget are any indication, increased expenditure on welfare and rural economic development programmes may be in the works. Prior to the general elections in 2024, more money could be spent on rural and social programmes, according to a new analysis.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The government&#8217;s blueprint for the upcoming fiscal year may place a major emphasis on improving infrastructure, which was a focus of the previous budget because it fosters economic growth and job possibilities. To address the growth challenges in FY24, the government might not hold back from providing a greater allocation this year. According to experts, the budget&#8217;s main emphasis will be on generating jobs and investment-driven growth; consequently, measures to encourage infrastructure growth may be one of the budget&#8217;s highlights before attention shifts to a greener economy.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The country is still committed to achieving net zero emissions by 2027, so the government may not hesitate to announce new programmes and incentives to promote renewable energy resources. Climate change is becoming a pressing issue around the world, so the government may not hesitate to push forward with promoting sustainable, rich energy resources.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"INCOME_TAX_RELIEF\"><\/span><strong>INCOME TAX RELIEF\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">While the government lacks the fiscal space to announce major tax reforms, it could provide some incremental benefits to the aam aadmi and prevent a sharp decline in consumption by raising deductions under common sections of the income tax act, such as section 80C and ATD applicable under the old income tax regime and revamping tax slabs and lowering tax rates under the optional income tax regime.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"BOND_MARKET\"><\/span><strong>BOND MARKET<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Fiscal_deficit_and_Borrowing_Outlook\"><\/span><strong>Fiscal deficit and Borrowing Outlook<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The bond markets will be looking for clear direction on the borrowing plan and the fiscal deficit. The total amount borrowed by the government in FY21 and FY22 was Rs 12 trillion. The overall borrowings rose to Rs. 14.31 trillion in FY23, nevertheless. You may remember that the high increase in borrowings on the day of the Union Budget in 2022 put pressure on the bond markets. Additionally, the total borrowing goal for FY24 is anticipated to be close to Rs 16 trillion. However, it is anticipated that the budget deficit will be lower, at 5.8% to 6.0% of GDP.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Sovereign_Green_bonds_and_Debt_funds\"><\/span><strong>Sovereign Green bonds and Debt funds<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">On the subject of green bonds, the Budget 2023\u201324 is anticipated to take a more aggressive stance. The budget offering special incentives to investors for sovereign green bonds can be a huge move for debt and <a href=\"https:\/\/goldenpi.com\/blog\/essentials\/fixed-income-outlook-2023\/\" target=\"_blank\" rel=\"noopener noreferrer\">fixed income markets<\/a>. Budget 2023-24 is likely to do a lot to ensure that mutual funds play a much bigger role in the <a href=\"https:\/\/en.wikipedia.org\/wiki\/Bond_market\" target=\"_blank\" rel=\"noopener noreferrer\">bond markets<\/a>. Debt fund involvement in the bond markets can be increased and more flows into debt funds can be encouraged by a more sensible tax policy with regard to debt mutual funds. Lower expenditure and a decrease of <a href=\"https:\/\/goldenpi.com\/blog\/essentials\/impact-of-u-s-inflation-on-the-indian-debt-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">inflation<\/a> are results of the global economy slowing down. This may be an opportune moment to consider medium- to long-term bonds. Bonds offer a fixed income and can be a relatively stable addition to a<a href=\"https:\/\/goldenpi.com\/blog\/bond-news\/how-to-build-a-diversified-bond-portfolio\/\"> portfolio.<\/a> When inflation is lower, there tends to be a greater potential for bonds to deliver attractive yields, allowing investors to benefit from both consistent interest income and favorable market conditions.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Inclusion_of_Indian_bonds_in_global_indices\"><\/span><strong>Inclusion of Indian bonds in global indices<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">In the previous budget, it was intended to present a persuasive case for the inclusion of Indian <a href=\"https:\/\/goldenpi.com\/collections\/state-government-guranteed-bonds\" target=\"_blank\" rel=\"noopener noreferrer\">government bonds<\/a> in the widely used benchmarks JP Morgan Bond Index and the Bloomberg Bond Index. However, the decision was delayed because the government did not provide the necessary tax advantages that the worldwide funds had required. With the participation of international bond funds, the inclusion on the bond index will not only increase flows but also deepen and expand the Indian bond markets. Participation in the bond indices would result in an additional $30 billion flowing into Indian government debt. This is nearly 50% of aggregate debt flows of in the last 5 years, so for the bond markets this is a quantum leap. The government must provide these international investors with instructions on the subject of tax advantages on bonds.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Sovereign_Bonds\"><\/span><strong>Sovereign Bonds<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Plans to raise $10 billion through offshore <a href=\"https:\/\/goldenpi.com\/blog\/sovereign-gold-bond\/understanding-premature-redemption-of-sovereign-gold-bonds-sgbs-a-detailed-insight\/\">sovereign bonds<\/a> (government debt denominated in a foreign currency) were included in the Union Budget 2019 but were abandoned under pressure from macroeconomic worries brought on by the pandemic. In the past, the government has been too cautious when it comes to sovereign debt; it&#8217;s time for this budget to stop being so cautious. The Indian government must stop being hesitant about its agenda for issuing <a href=\"https:\/\/goldenpi.com\/blog\/essentials\/bond-market\/understanding-sovereign-gold-bonds-everything-you-need-to-know-before-investing\/\" target=\"_blank\" rel=\"noopener noreferrer\">sovereign bonds<\/a>. India does have the freedom to go all out and aggressively raise money through sovereign bonds because its foreign exchange reserves are above $560 billion.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Inflation\"><\/span><strong>Inflation<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Since the majority of monetary levers for adjusting inflation have been used up, using fiscal levers will be a major problem for the government. The rate outlook and the need to promote growth at any costs will be the main influences on bond market mood. How the budget depicts inflation for the upcoming year will have a big impact. The quantity of government borrowings and the prospect for inflation versus growth are typically two elements that bond markets use as budget indications. Rate increases of 2.25% were consistently implemented in 2022, which slightly slowed inflation.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Summary\"><\/span><strong>Summary<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Instability in the world economy, <a href=\"https:\/\/goldenpi.com\/blog\/essentials\/did-you-know-about-the-hidden-form-of-inflation\/\" target=\"_blank\" rel=\"noopener noreferrer\">rising inflation<\/a>, falling private spending, and slower GDP growth will have an impact on the 2023 Union Budget. More funds could be allocated to rural and social programmes before the general elections in 2024. The creation of jobs and growth that is driven by <a href=\"https:\/\/goldenpi.com\/blog\/essentials\/diversifying-investment-portfolio-managing-risk\/\" target=\"_blank\" rel=\"noopener noreferrer\">investment<\/a> will be the budget&#8217;s key focal points. The fiscal deficit and borrowing plan will be topics that the bond markets want to be clearly outlined. In FY21 and FY22, the government borrowed a total of Rs 12 trillion.<\/p>\n<p>Mutual funds are projected to play a substantially larger role in the bond markets as a result of the budget for 2023\u201324. India failed to make a compelling argument in its previous budget for the inclusion of Indian government bonds in widely recognised benchmarks. Index of JP and Bloomberg Bond Index. Participation in the bond indices would increase the amount of money going into Indian government debt by $30 billion. Regarding <a href=\"https:\/\/goldenpi.com\/collections\/tax-free-bonds\" target=\"_blank\" rel=\"noopener noreferrer\">tax benefits on bonds<\/a>, the government must issue guidelines.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 2023 Union Budget will be influenced by a number of issues, including the unstable global economy, rising inflation, declining private consumption,&hellip;<\/p>\n","protected":false},"author":4,"featured_media":12179,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[151],"tags":[],"class_list":["post-5483","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-matters"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UNION BUDGET 2023: EXPECTATIONS<\/title>\n<meta name=\"description\" content=\"Get an insight into what to expect from the Union Budget 2023. From government&#039;s focus on boosting the economy to expected tax reforms and more. Stay updated with our comprehensive analysis of Union Budget 2023 expectations.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UNION BUDGET 2023: EXPECTATIONS\" \/>\n<meta property=\"og:description\" content=\"Get an insight into what to expect from the Union Budget 2023. From government&#039;s focus on boosting the economy to expected tax reforms and more. Stay updated with our comprehensive analysis of Union Budget 2023 expectations.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/\" \/>\n<meta property=\"og:site_name\" content=\"GoldenPi | Blogs\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/goldenpitech\" \/>\n<meta property=\"article:author\" content=\"goldenpitech\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-26T17:32:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-14T04:31:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/01\/25160502\/Union-Budget-2023_-Expectations.png\" \/>\n\t<meta property=\"og:image:width\" content=\"731\" \/>\n\t<meta property=\"og:image:height\" content=\"347\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@GoldenPiTech\" \/>\n<meta name=\"twitter:site\" content=\"@GoldenPiTech\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/\",\"url\":\"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/\",\"name\":\"UNION BUDGET 2023: EXPECTATIONS\",\"isPartOf\":{\"@id\":\"https:\/\/goldenpi.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/01\/25160502\/Union-Budget-2023_-Expectations.png\",\"datePublished\":\"2023-01-26T17:32:48+00:00\",\"dateModified\":\"2026-04-14T04:31:53+00:00\",\"author\":{\"@id\":\"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/7b7afc706617dbf29357675946045722\"},\"description\":\"Get an insight into what to expect from the Union Budget 2023. From government's focus on boosting the economy to expected tax reforms and more. Stay updated with our comprehensive analysis of Union Budget 2023 expectations.\",\"breadcrumb\":{\"@id\":\"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/#primaryimage\",\"url\":\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/01\/25160502\/Union-Budget-2023_-Expectations.png\",\"contentUrl\":\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/01\/25160502\/Union-Budget-2023_-Expectations.png\",\"width\":731,\"height\":347,\"caption\":\"Union Budget 2023 Expectations\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/goldenpi.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"UNION BUDGET 2023: EXPECTATIONS\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/goldenpi.com\/blog\/#website\",\"url\":\"https:\/\/goldenpi.com\/blog\/\",\"name\":\"GoldenPi | Blogs\",\"description\":\"All about bonds online in India\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/goldenpi.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/7b7afc706617dbf29357675946045722\",\"name\":\"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/753eff78609551874c9773d3bee5eeab7bba3aa40f99a8b2405592eed9d9df89?s=96&d=https%3A%2F%2Fd2zny4996dl67j.cloudfront.net%2Fblogs%2Fwp-content%2Fuploads%2F2026%2F01%2F12111941%2FAbhijit-512x512-1-1-150x150.png&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/753eff78609551874c9773d3bee5eeab7bba3aa40f99a8b2405592eed9d9df89?s=96&d=https%3A%2F%2Fd2zny4996dl67j.cloudfront.net%2Fblogs%2Fwp-content%2Fuploads%2F2026%2F01%2F12111941%2FAbhijit-512x512-1-1-150x150.png&r=g\",\"caption\":\"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi\"},\"description\":\"With over 15 years of experience across fixed income and debt markets, he brings deep domain expertise along with a strong focus on investor education and transparency. An alumnus of IIT Kharagpur and IIM Calcutta, his views are personal and should not be considered investment advice.\",\"sameAs\":[\"goldenpitech\",\"https:\/\/www.linkedin.com\/company\/goldenpi\/\",\"https:\/\/x.com\/GoldenPiTech\"],\"url\":\"https:\/\/goldenpi.com\/blog\/author\/goldenpi\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"UNION BUDGET 2023: EXPECTATIONS","description":"Get an insight into what to expect from the Union Budget 2023. From government's focus on boosting the economy to expected tax reforms and more. Stay updated with our comprehensive analysis of Union Budget 2023 expectations.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/","og_locale":"en_US","og_type":"article","og_title":"UNION BUDGET 2023: EXPECTATIONS","og_description":"Get an insight into what to expect from the Union Budget 2023. From government's focus on boosting the economy to expected tax reforms and more. Stay updated with our comprehensive analysis of Union Budget 2023 expectations.","og_url":"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/","og_site_name":"GoldenPi | Blogs","article_publisher":"https:\/\/www.facebook.com\/goldenpitech","article_author":"goldenpitech","article_published_time":"2023-01-26T17:32:48+00:00","article_modified_time":"2026-04-14T04:31:53+00:00","og_image":[{"width":731,"height":347,"url":"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/01\/25160502\/Union-Budget-2023_-Expectations.png","type":"image\/png"}],"author":"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi","twitter_card":"summary_large_image","twitter_creator":"@GoldenPiTech","twitter_site":"@GoldenPiTech","twitter_misc":{"Written by":"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/","url":"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/","name":"UNION BUDGET 2023: EXPECTATIONS","isPartOf":{"@id":"https:\/\/goldenpi.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/#primaryimage"},"image":{"@id":"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/#primaryimage"},"thumbnailUrl":"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/01\/25160502\/Union-Budget-2023_-Expectations.png","datePublished":"2023-01-26T17:32:48+00:00","dateModified":"2026-04-14T04:31:53+00:00","author":{"@id":"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/7b7afc706617dbf29357675946045722"},"description":"Get an insight into what to expect from the Union Budget 2023. From government's focus on boosting the economy to expected tax reforms and more. Stay updated with our comprehensive analysis of Union Budget 2023 expectations.","breadcrumb":{"@id":"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/#primaryimage","url":"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/01\/25160502\/Union-Budget-2023_-Expectations.png","contentUrl":"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/01\/25160502\/Union-Budget-2023_-Expectations.png","width":731,"height":347,"caption":"Union Budget 2023 Expectations"},{"@type":"BreadcrumbList","@id":"https:\/\/goldenpi.com\/blog\/financial-matters\/union-budget-2023-expectations\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/goldenpi.com\/blog\/"},{"@type":"ListItem","position":2,"name":"UNION BUDGET 2023: EXPECTATIONS"}]},{"@type":"WebSite","@id":"https:\/\/goldenpi.com\/blog\/#website","url":"https:\/\/goldenpi.com\/blog\/","name":"GoldenPi | Blogs","description":"All about bonds online in India","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/goldenpi.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/7b7afc706617dbf29357675946045722","name":"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/753eff78609551874c9773d3bee5eeab7bba3aa40f99a8b2405592eed9d9df89?s=96&d=https%3A%2F%2Fd2zny4996dl67j.cloudfront.net%2Fblogs%2Fwp-content%2Fuploads%2F2026%2F01%2F12111941%2FAbhijit-512x512-1-1-150x150.png&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/753eff78609551874c9773d3bee5eeab7bba3aa40f99a8b2405592eed9d9df89?s=96&d=https%3A%2F%2Fd2zny4996dl67j.cloudfront.net%2Fblogs%2Fwp-content%2Fuploads%2F2026%2F01%2F12111941%2FAbhijit-512x512-1-1-150x150.png&r=g","caption":"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi"},"description":"With over 15 years of experience across fixed income and debt markets, he brings deep domain expertise along with a strong focus on investor education and transparency. An alumnus of IIT Kharagpur and IIM Calcutta, his views are personal and should not be considered investment advice.","sameAs":["goldenpitech","https:\/\/www.linkedin.com\/company\/goldenpi\/","https:\/\/x.com\/GoldenPiTech"],"url":"https:\/\/goldenpi.com\/blog\/author\/goldenpi\/"}]}},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/posts\/5483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/comments?post=5483"}],"version-history":[{"count":8,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/posts\/5483\/revisions"}],"predecessor-version":[{"id":12842,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/posts\/5483\/revisions\/12842"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/media\/12179"}],"wp:attachment":[{"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/media?parent=5483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/categories?post=5483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/tags?post=5483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}