The Union Budget for 2023-24 was presented by the Hon’ble Finance Minister, Ms. Nirmala Sitharaman on February 1, 2023. The policy initiatives outlined in the budget proposals are intended to ensure macroeconomic stability of Indian economy in the face of global recession, while giving momentum to economic growth. The budget seeks to build on the foundation laid over last two years after the Covid pandemic. It seeks to incentivize capital investment, both public and private, to act as a key driver of inclusive growth and employment. This newsletter summarizes the key tax proposals relating to direct and indirect taxes in the Finance Bill 2023.