Budget 2024: What all to expect?

The first day of February is going to be super important for India, as the Union Finance Minister, Nirmala Sitaraman will be bringing forward the interim budget 2024-2025. 

There are a myriad of key sectors on which the Interim Budget 2024 is expected to focus. These include agriculture, social welfare, education, healthcare, infrastructure, and more. The Budget will also talk about the long-term policy initiatives that may be pursued by the new government after the elections 

Here are a few things that the country expects from the Interim Budget of 2024. Take a glance. 

Expectation 1:

There could be plans aimed at reducing taxes. Plans could be presented that are aimed at offering strong support to the farming and rural areas with a focus on the capex. 

Expectation 2:

The interim budget could say that the country is allocating approximately 3s 4 trillion ($48 billion) for fertilizers and food subsidies for the coming fiscal year. 

A food subsidy expenditure of about $26.52 billion for FY25 showing a rise of 10 percent from the anticipated allocation in FY24 has been forecasted by the Ministry of Consumer Affairs, Food, and Public Distribution. 

Expectation 3:

 An aim has been set by the government to actually raise Rs 510 billion with the help of divestment. This means that the amount that stands equal to $6 billion will be earned by the government by selling a few of its investments and assets. 

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Expectation 4:

 For affordable housing, the government might increase the money funding by about 15 percent or more. 

Expectation 5:

There could be a uniform taxation rate for all the securities. There exists a disparity in tax rates holding periods between shares that are unlisted and shares that are listed. This gives rise to skewed preferences among investors. 

A uniform tax rate for resident investors provides for a fair investment landscape.

Expectation 6:

There might be a relaxation of some conditions to be eligible as a recognized startup with the DPIIT (Department of Promotion of Industry and Internal Trade. The interim budget may revisit the conditions of rigid company-type requisites and more.

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