KEY AMENDMENTS OF BUDGET 2023 - AFFECTING DEALS
06 February 2023
On 1 February 2023, The Hon’ble Finance Minister of India – Ms. Nirmala Sitharaman presented the annual budget which will guide India towards becoming a USD 5tn economy and shape the course of India Inc.
Being cognitive of the resilient headwinds of the global slowdown, the Modi led government has proposed to deliver a transforming India success story to the world by outlining 7 priorities - Inclusive development, Reaching the last mile, Infrastructure and investment, Unleashing the potential, Green growth, Youth power and the Financial sector.
Lauded as progressive, the Budget fine print does cover some amendments which may have some bearing for PE / VCs as well as Foreign funds while doing transactions and deals in India.
Summarising these amendments, we at BDO India have prepared a focused document which explains the key amendments vital to be understood by the PE/VC fraternity.