There is an impact of recession which might affect the Indian trade. Nirmala Sitharaman, the finance minister of India has requested the centre to insulate themselves from the negative impacts.
In the post-budget interaction with many industry bodies, there is a long-pending reforems for including petroleum products under the GST. The finance minister was also speaking about the same in an event of the Associated Chambers of Commerce and Industry of India (ASSOCHAM). There are a number of MSMEs which still depend on critical components that have sourced from the nation. The government is keeping a keen eye on the surge in imports. Speaking in another session of the PHD Chamber of Commerce and Industry, it was said that the petroleum price should be inclusive of GST if the state agrees to do so.
The government’s main focus is to ensure the public expenditure continues to grow and multiply effectively. Since the last 3-4 years, there has been consistent emphasis on public capital expenditure. The budget has 30% increase in the capital expenditure. This has reached double digits. This shows the clear focus on budget. The cotton production has witnessed a growth pf 8.8% during the period. Rajasthan witnessed a growth of 16%. The total CAGR is 0.25%, as per the Telangana Socio-Economic Outlook 2023.
A senior official said, “The State could achieve this because of the planned investments in the new irrigation projects and revitalization of existing irrigation systems”
There is a relative decrease in the pink bollworm attack, favourable weather conditions and also an increase in the plant population which has helped the farmers reap more in recent times
