Budget News

The Indian economy has grown due to reforms in recent years but faces challenges outlined in the ’mini Economic Survey’ ahead of the Interim Budget. We take a look at the key challenges raised.

Economic Survey and Union Budget 2024: Before the Union Budget 2024 is announced on July 23, another key document that will be released is the Economic Survey. We explain the Survey’s significance, what it covers and how it differs from the Budget.

Budget 2024: Amid a growth spurt and consolidation wave, the banking sector’s wishlist prioritises financial stability and economic acceleration.

The wish list also includes policies and security measures to curb cyber threats and frauds, support for open banking policies, a cloud payments platform for banks, and investments in AI and blockchain.

Budget 2024: The government may focus on executing projects rather than making any structural changes to the upcoming Budget, says DSP Mutual Fund’s Anil Ghelani. Sectors such as infrastructure, banking and IT may get a boost.

Budget 2024: The banking sector expects increased foreign direct investments, privatisation and concessional access to green finance.

Deepashree Shetty says that the basic exemption limit under the old tax regime should be raised in Budget 2024. She also believes that other changes which taxpayers can expect include rationalisation of capital gains tax and increase in deductions

Emkay predicts stable tax revenue, minor personal tax rate adjustments, and reduced net market borrowings for FY25. The budget for FY25 aims to balance fiscal discipline with increased capital expenditure and targeted welfare spending in a challenging economic and political environment.

The automobile sector expects Union Finance Minister Nirmala Sitharaman to make some announcements on the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme, enhanced production-linked incentive (PLI) schemes, and other incentives to boost the EV sector.

Budget 2024 expectations: Maintain economic policies, invest in infrastructure, modernize railway and defence sectors, no changes to capital gains tax, aggressive PSU divestment, and GST optimization for economic growth.