p styletext-align: left;strongBUDGET 2023strongp p styletext-align: left;emstrongPRUDENCE OVER POLITICS strongemp p styletext-align: left;Traditionally, the Budget is understood mainly in terms of tax brackets and allocation for various sectors. In common discussions, more critical pillars of the Budget, like fundamentals of fiscal consolidation and enabling wealth creation for empowerment, are generally neglected. With the upcoming Election Year, everyone naturally expected this years Budget to be more populist. The Modi Government, as usual, defied those expectations. The financial statement for the fiscal year 2023 24 presented by Smt Nirmala Sitharaman has surprised economists and market players. Besides the basic features of the Modi-led Governments approach towards budgeting and execution, the backdrop of current global turmoil needs to be kept in mind while analysing this Budget.p p p