Union Budget 2024: A Roadmap for India's Future
As Finance Minister Nirmala Sitharaman prepares to present the Union Budget for 2024, expectations are high across various sectors. The budget is anticipated to set the economic policy for the coming years, particularly as the Modi government embarks on its third term. Here’s a comprehensive look at the key expectations and potential implications. Economic Growth and Fiscal Consolidation One of the primary focuses of the budget will be on sustaining economic growth while maintaining fiscal discipline. India’s economy grew at an impressive rate of 8.2% in the fiscal year 2023-24, but challenges such as inflation and global economic uncertainties remain. The government is expected to continue its emphasis on fiscal consolidation while boosting capital expenditure in critical sectors like infrastructure, healthcare, and education. Tax Reforms and Relief Tax reforms are high on the agenda for both individuals and corporations. The salaried class, in particular, has been vocal about th...