Expectations from FM Nirmala Sitharaman in Union Budget 2024: Sector-wise Analysis and Predictions
With the Union Budget 2024 just around the corner, anticipation is building as Finance Minister Nirmala Sitharaman prepares to unveil measures aimed at propelling India’s economy towards sustained growth and development. Against the backdrop of global economic challenges, all eyes are on the budget to strike a delicate balance between fiscal prudence and growth-oriented initiatives.
The NDA government is expected to maintain its focus on infrastructure in the upcoming budget, with a potential increase in capital expenditure for public investment in key areas such as renewable energy, City Gas Distribution, and water projects. This strategic focus on the infrastructure sector is poised to drive exponential growth in the Indian economy.
In various sectors, stakeholders have high hopes for the budget. Middle-class individuals are looking for revisions in tax slabs and deductions to ease their tax burden, while farmers are anticipating increased allocations for irrigation projects and agricultural initiatives. The industry and commerce sector is eager for incentives for MSMEs and measures to boost exports, while the healthcare sector is expecting increased allocations for infrastructure and medical research.
Overall, Budget 2024 is expected to be growth-oriented, with a focus on job creation, infrastructure development, and social welfare initiatives. As the Finance Minister navigates through the expectations of various stakeholders, maintaining fiscal discipline and addressing global economic uncertainties will be key challenges in shaping India’s economic trajectory. Stay tuned for the budget announcement on July 23 to see how these expectations unfold.
