homeeconomy NewsUnion Budget 2023 is pro growth, says White Oak Capital's Prashant Khemka
economy | Feb 1, 2023 1:29 PM IST

Union Budget 2023 is pro-growth, says White Oak Capital's Prashant Khemka


In an interview with CNBC-TV18, Prashant Khemka, Founder of White Oak Capital Mgmt gave his take on Nirmala Sitharaman's Union Budget 2023 and his outlook on the road ahead. He believes it is a very good Budget, builds on the laid in prior budgets. It is very pro-growth Budget and boosts very importantly job creation.

India will focus on economic growth and job creation, the finance minister said on Wednesday presenting the government's last full budget in Parliament before a general election due next year that Prime Minister Narendra Modi is projected to win.

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She said despite a global slowdown because of the COVID-19 pandemic and the Russia-Ukraine war, the Indian economy was "on the right track".
Prashant Khemka, founder of White Oak Capital Management, said Union Budget 2023 is pro-growth and boosts very importantly job creation.
Speaking to CNBC-TV18, he said Union Budget is putting thrust on two fronts, one is the ease of doing business and the other a massive increase in capital outlays.
He said, "Easing the compliance burden on 39,000 laws, further decriminalising 3,400 legal provisions these are positive which don't necessarily make for numerical or quantifiable headlines. They are very important in terms of ease of doing business."
He further stated the announcements made on GIFT City and related to startups are also further promoting job creation. A capital outlay of Rs 2.4 lakh crore has been provided for railways, which is highest-ever allocation since 2013-14.
Talking about on capital outlays, Khemka said, "The FM started with a big announcement on that a 33 percent increase, particularly a nine fold jump in railway budget during last 10 years, and railways are a lifeline of sorts for nation's transportation infrastructure. That is a very, very positive move from a growth and job creation perspective."
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