1st Amrit Kaal Budget pleases 1 in 2 citizens – Ipsos IndiaBus Post Budget Survey

One month on, an Ipsos pan India post Budget survey shows 1 in 2 citizens (54%) are pleased with the Budget, for 20% it was average, 14% were displeased and 12% were undecided.   

Citizens from western India gave higher ratings to the Budget announcements (70%)  versus those from south India (44%).   

Finance Minister, Nirmala Sitharaman presented the first budget of Amrit Kaal (period termed for the next 25 years on India’s 75 years of Independence) on Feb 1st, 2023, with a new tax structure leading to tax relief for the middle class.

 Parijat Chakraborty, Group Service Line Leader & Corporate Reputation, Ipsos India said, “Significant tax breaks in the new Budget unveiled on Feb 1st is aimed to put more money in the hands of the middle class, giving spur to spending and saving. With growth and technology as two key drivers for the next 25 years during the Amrit Kaal, this provides hope and optimism to the citizens, for jobs, salary enhancements and sustained progress. And this has resonated well with the citizens one month on. We wanted to capture views when the initial dust and hype had settled around the budget.”         

How favorable is the Budget?

1 in 2 citizens (51%) pronounced the Budget as favorable keeping in view every aspect covered and in its relevance to the citizens. 15% felt it was average, 16% were undecided and 18% termed it as unfavorable.

North Indians found the budget more favorable (59%)  vis-à-vis those from the Eastern part of India (35%). Self-employed (56%) were happier than those unemployed (37%). SEC A audience gave higher ratings (61%) over SEC B (47%) and SEC C (48%). Higher educated citizens favored the Budget more (59%) over those lower educated (44%).        

Ipsos India conducted the survey between Feb 17-March 03, 2023.

These are the findings of the Ipsos IndiaBus monthly, pan India, quantitative survey, that uses a structured questionnaire and is conducted by Ipsos India on diverse topics among 2244 respondents from SEC A, B and C households, covering all adults of both genders from all four zones in the country. The survey is conducted in metros, tier 1, tier 2 and tier 3 towns, providing a more robust and realistic view of urban Indians. The respondents were polled face to face and online. The data is weighted by demographics and city-class population to arrive at the national average. The margin of error is +/-5% with 95% accuracy levels.