Key losers and winners from budget 2023
Winner:
- Agriculture sector, spending 22 billion on high-value horticulture and setting up of an agriculture accelerator fund
- Tourism sector with 50 new destinations to be selected for promoting domestic tourism
- Infrastructure with various projects announced in a bid to boost last-mile connectivity
- Green energy350 billion investment in energy transition and carbon neutrality initiatives
Loser:
- Cigarette makers, proposed tax increase on specified cigarettes by about 16%
- Jewelers, increase in import duty on silver dore, bars and articles
- Oil refineries, no compensation announced toward losses on keeping a check on diesel and gasoline prices
- Foreign carmakers, increase in customs duty priced above $40,000 and imported as completely-built units
