Union Budget

India has moved past the key milestone of 150 crores vaccination jabs within a year. While the efforts towards getting more and more of the population vaccinated will continue (including children and booster doses for senior citizens), the focus now shifts to the North Block.

Whilst several businesses witnessed resilience and uptick in the economy in 2021, it is expected that the pandemic will soon enter into the endemic stage. This sets out the stage for growth and expansion of the Indian economy. Against this backdrop, the upcoming Union Budget 2022-23, which will be announced on February 01, 2022, is expected to assume great significance in inking out the growth trajectory of the Indian economy.

With encouraging tax collections, India Inc is expecting some key announcements which will enable them to reset their growth agenda and also help stressed sectors to come out of the woods. At the same time, managing fiscal prudence, balancing inflation targets, and public spending shall be an interesting convergence to watch out for.

Download Analysis of the Union Budget 2022-23 Download Highlights of India's Union Budget 2022-23

Event & Webinars

Confederation of Indian Industry (CII) – Dhruva Advisors Session on Post Budget Analysis.

Date: Feb 01, 2022 at 4:30 PM – 6:30 PM IST

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Dhruva Advisors – ITR – Taxsutra Webinar on the Indian Union Budget 2022-23

Date: Feb 01, 2022 at 5:00 PM – 6:30 PM IST

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Bengal Chamber of Commerce & Industry (BCC&i) – Dhruva Advisors Webinar on ‘Union Budget 2022-23: An In-depth Analysis’

Date: Feb 02, 2022 at 10:00 AM – 1:00 PM IST

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Indian Chamber of Commerce (ICC) – Dhruva Advisors Webinar on ‘Analysis on Union Budget 2022-23’.

Date: Feb 02, 2022 at 4:30 PM – 6:30 PM IST

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Dhruva, ESG, FICCI, Indian High Commission (Singapore) & SBF

Date: Feb 14, 2022 at 9:30 AM – 11:30 AM (SGT)

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Budget Videos

Mehul Bheda, Partner, Dhruva Advisors discusses changes in capital gains tax and impact on M&A

02 February, 2023

Bengal Chamber of Commerce & Industry – Dhruva Advisors Webinar on Union Budget 2022-23

04 February, 2022

Indian Chamber of Commerce (ICC) – Dhruva Advisors

04 February, 2022

Confederation of Indian Industry (CII) – Dhruva Advisors

04 February, 2022

Punit Shah, Partner, Dhruva Advisors discusses the important amendments made in the Finance Bill

02 February, 2022

Ranjeet Mahtani – Dhruva Advisors provides a clear insight and impact on prior judgements

02 February, 2022

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CEO Budget Poll 2023

While we witnessed the once-in-100-years pandemic budget last year with significant structural reforms, there are expectations that the upcoming Budget too will be robust enough to set forth a new architecture for long-range reforms.

CNBC TV18 and Dhruva Advisors conducted a ‘Pre-budget – CEO Poll’ to capture the thoughts of the CEOs on the state of the economy, how they perceived the business environment and what tax measures they believe are essential for the economy to continue on its growth trajectory.

We were delighted to receive an overwhelming response from the CEOs who spared their valuable time to provide us their feedback.

As you see from the accompanying presentation which tabulates the result of this survey, the overwhelming view of Corporate India is that the economy is experiencing an upturn and there are high expectations of further reforms and rationalization of tax provisions in Budget 2022. CEOs believe that if the Indian economy has to accelerate, investment in infrastructure, healthcare and tax reforms are imperative. The ease of doing business and increase in tax compliance burden are other aspects that need to be addressed.

Some of the key findings of the survey are –

  • 72% of respondents believe that growth story of the Indian economy expected to remain relatively strong, better placed to face the likely global recession
  • Over 78% respondents feel that the Union Budget should continue the focus on infrastructure development. With China plus one increasingly becoming the theme, there is call for strengthening manufacturing sector to attract global supply chains; around 84% respondents feel that this should be the major thrust of the Union Budget
  • Global recession and high raw material cost are expected to be main obstacles to growth by more than half of the respondents. Majority of businesses expect boost in their production levels despite global recession. However, there is split verdict on the demand outlook
  • Majority respondents also want the Government to continue the efforts to improve the ease of doing business
  • Make in India policy and digital transformation expected to be key drivers of growth of businesses
  • Demand for minimizing tax compliances by majority respondents
  • Rationalization of tax slabs seen as the key ask from the Government
  • Accountability of tax authorities and simplification of capital gain taxation too find place on the asks from the Government
Key Insights View poll results View findings

Budget News

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