Budget 2023 should lay the path to 2047

The first advance estimates released by the National Statistical Office showed that GDP in constant prices in FY23 was 8.6 per cent higher than the pre-Covid year of FY20. In other words, India had a growth rate of 2.86 per cent per annum in the last three years. Also note that the pre-Covid year, FY20, had a low base with 3.7 per cent growth. Therefore, the need to focus on higher growth in the forthcoming budget, medium and long-term, is obvious. The budget also should keep in mind global headwinds such as geopolitical factors, slowdown of growth in the US,…