Budget Insights Simplified
Best resources for to learn about Budget 2023
Another Year..and another round of Expectations.
Yes, we are talking about the Indian Budget Session 2023!
So the union budget of India just came out and it carries the aspiration of all fellow Indians. The budget session is an essential day in any functional democratic country, as it affects all the economic spheres of the country's progress.
And there are many key interesting points in this Budget. One of the most notable is the push for Green Energy. According to this budget, around ₹35,000 crores has been allocated for energy transition, to urge the existing industries to confidently shift to using renewable energy. This would also give a big boost to all the EV manufacturing industries in India.
That’s pretty cool. The inclusion of Sustainable development actions in Bills is nothing new. But as the years go by, the government of any well-functioning democracy should lay special emphasis on creating a sustainable development plan for its country. This on practical grounds enables the country to survive economically in the coming future. And this time, the Budget 2023 does indeed mention it. Therefore, the media have lauded this widely on social media.
While this Budget Session 2023 have received a lot of positive responses from people, especially from the middle-class entities, many have (as usual) tried to find the fault at a deeper level.
Like if you were reading about it on social media like me, you would know that this year too, the duties on raw materials and intermediate inputs got reduced. This was done to boost the value addition happening in India. What does that mean? Simply said, value addition is the extra value created over and above the original value of something. However, critics say that a reduction in import duties, in this case, could increase competition for the corresponding domestic sector.
So in the sea of technicality, it is easy to get lost. And if you are someone like me who lacks the basic requisite knowledge to comprehend the Budget, you are not alone.
While almost all of us know about its importance, studying and knowing about the budget could be tedious work for anyone. Especially for common people like you and me who don't have that much financial expertise.
And to make out if the decisions made are in favour of you or not, could be challenging.
I tried to educate myself about the Budget for 2023.
Here is what I did.
I read about it online and somehow, at least to the best of my capabilities, I tried to teach myself that. After spending a whole day scouring the internet, I got at least some idea about our latest budget session.
And guess what, you can do that too.
“But there are a lot of resources out there. And it seems overwhelming. Which one should I use? ”
Don't you worry! I did the hard job for you!
Here are some of the links to famous articles about the budget session which I found very helpful. And most probably, you would find it helpful too.
Comment down your opinion about this.
Here we go!
🧾Budget 2023: Explained - ReadOn (substack.com) by ReadOn on Substack
The thing I like about this site is that this website provides direct insights and highlights in form of bulleted points. This post captures the important information and value points. This was the first post I found on my networks, and the simplicity of the website is what drives the website. I have been a regular reader of this website.
2. 2023 Budget : What changes for you? - by NextBigWhat on Substack
If you want to know what has changed in the recent budget bill compared to the previous year, this is best. The website also uses simple and easy-to-understand analytics to have a gist of Budget 2023.
If you are lookfor full insights about Budget 2023, economic times articles are the best. This website kinda shows highlights and real-time events of the budget.
Moreover, it shows you the whole timeline of the Budget 2023 and goes on to provide additional sources like important tweets, public press releases, important quotes and so on.
If you are a visual learner, then this website is good for you. For every fact and the highlight of the budget, it has infographic-style content. This article was a fun read for me, as it provided all the important schemes and details of the budget visually.
So that’s the wrap. Hope you find the above resources helpful.
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Share your opinions in the comments, and ill see you on the flip side!
