Union Budget reaction quote | Explorex

The Union Budget 2023, is a well-balanced and growth focused effort by the Government of India to ensure greater emphasis on various sectors such as social sector schemes, infrastructure creation, bringing in a great deal of relief to the middle class. It will assist India’s economy in moving closer to the goal of reaching $5 trillion in GDP by 2025–2026 and growing at 7% in the current year. The allocation of funds to bolster the growth of start-ups is a noteworthy decision undertaken in the 2023 budget.

ExplorexMr. Mainak Sarkar, Co-founder & CEO of Explorex


The introduction of the National Data Governance Policy to unleash innovation by start-ups in the country will prove beneficial to many new-age start-ups. Further, the government digital certificate depository Digilocker services for the MSMEs and fintech sector will hasten the germination of more innovative fintech services and further allow fintech solutions in India to function smoothly using India’s digital public infrastructure, including Aadhaar, PM Jandhan Yojna, video KYC, India Stack, and UPI. The budget will prove to be of immense help with regard to the start-up ecosystem through the proposal of the extension of the date of incorporation for income tax benefits from 31st March 2023 to 31st March 2024. Overall, Budget 2023 has successfully addressed the need of the hour by bringing in policies and regulations that are crucial for the growth of the country. We applaud Union Finance Minister Smt. Nirmala Sitharaman for taking all factors into account and presenting a budget focused on growth and the future in these trying times.

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