The Union Budget 2023-24 is largely a balanced and a growth-oriented budget. Given the global economic uncertainty and elections are forthcoming, the budget is merely in expected lines. While the fiscal deficit is estimated to be 5.9 per cent of GDP, and aimed to reach out a fiscal deficit below 4.5 per cent by 2025-26, it is apparently ambitious, and a bit vulnerable given the ambition set in capex and infrastructure development along with other goals. From the financing aspect, the gross market borrowings are estimated at ? 15.4 lakh crore, while the estimated net market borrowings are kept at ? 11.8 lakh crore, with balance financing is expected to come from small savings and other sources.