India Retail Insights: Key Takeaways for Retail from Union Budget 2023

What's Inside

India’s finance minister, Nirmala Sitharaman, presented the Union Budget—an annual financial statement about the estimated revenue and expenditure of the government for the upcoming fiscal year—in Parliament in February 2023. As part of our India Retail Insights series, we present highlights from the Union Budget for fiscal 2024, ending March 2024, and the implications for the country’s retail industry and associated sectors.

Data in this report include:

• India’s GDP growth rate for fiscal 2015 through fiscal 2024 (estimated)
• Capital expenditure in India’s Union Budget for fiscal 2021 through fiscal 2024 (estimated)
• Estimated miles in India’s National Highway network for fiscal 2015 through fiscal 2025 (estimated)

Other relevant research: 

• India Retail Insights: The Open Network for Digital Commerce—Supporting Small Sellers and Curbing Digital Monopolies
• Retail 2023: 10 Trends in India Retail
• Market Outlook: India E-Commerce—Online Adoption Expands to the Hinterlands
• Key Festivals and Holidays for Promotional Campaigns in India in 2023: Calendar