With the Union Budget 2024 on the horizon, all eyes are on Finance Minister Nirmala Sitharaman as she prepares to present the first budget of Prime Minister Narendra Modi’s third term. The budget carries the hopes and expectations of a diverse and dynamic population.
Common People’s Hopes
The common people, particularly the middle class, are hoping for tax reliefs and policies that can help ease their financial burdens. An increase in the standard deduction and new tax-saving opportunities are high on their wishlist.
Industry Expectations
Industries are looking forward to policies that will spur growth and make doing business easier. Support for the manufacturing sector, infrastructure development, and incentives for startups and MSMEs are crucial for driving economic growth.
Agricultural Sector’s Needs
Farmers are expecting more substantial support from the government in the form of subsidies, improved irrigation systems, and better market access. Such measures can enhance productivity and ensure fair returns for their efforts.
Taxpayer Relief
Taxpayers are anticipating a simplified tax regime with higher standard deductions, new tax slabs, and better exemptions for savings and investments. These changes can provide significant relief and encourage more savings.
Conclusion
The Union Budget 2024 is set to be a pivotal moment for India as FM Nirmala Sitharaman gears up to address the varied expectations of the nation. This budget has the potential to set the course for India’s economic future under Modi’s leadership, focusing on growth, development, and financial relief for all.
