Impact of India Budget 2023–24 on Food & Beverages Industry

The government’s intended primary focus on the development of 50 tourism destinations and improving connectivity, infrastructure and skill development initiatives, and income tax measures increasing people’s disposable income to spend on travel and leisure are expected to boost the growth of India food and beverages (F&B) industry indirectly, even though the industry’s expected relief measures are not directly addressed.

Impact of Budget Food & Beverages

Budget 2023 Highlights By Industry Verticals

The Budget 2023–24 (FY24) is focused on rural India and infra sector. It is expected to increase rural and agricultural spending by $10 billion, or 15%, above FY23.

Budget 2023 Highlights