Preface
This year ELP celebrated its 20th anniversary. Since the first
year we have been putting out a comprehensive budget booklet and
have had much appreciation from our clients and adulation from a
few who have replaced our logo with theirs and put out the same
publication (we take that as a compliment).
This budget is qualitatively different as it does not fall in
the populist trap and makes significant strides on the new India
that is emerging. Expectations were high that this budget would
pick sectors and try and repair some of the impact of the Covid
years. It does nothing of the sort – it is a play for the
future.
Armed with the confidence of record GST collections and flush
with the oil profits bonanza which was withheld from the end
consumer– the FM has delivered a budget with something for
all and nothing for the few who were looking out for special
treatment. The usual tweaks to the tax slabs and doles to specific
sectors have been foregone for a
