Union Budget 2024 Expectation: These people get Bumper Gift
Nirmala Sitharaman will present the Union Budget 2024 of the Central Government on Thursday. Public including businessmen, employees are curious about this budget. Many announcements are expected to be made to promote the economy of rural areas.
Union Budget 2024 Expectation: Finance Minister Nirmala Sitharaman will present the Interim Budget of the Central Government on Thursday. Calculations are already underway as to what could be in this budget which is being presented when the Lok Sabha elections are near. Union Budget 2024 Expectation: These people get Bumper Gift.
Public including businessmen, employees are curious about this budget. Many announcements are expected to be made to promote the economy of rural areas. In addition, it has been analyzed that financial assistance plans will be announced. Even though Prime Minister Narendra Modi has criticized the freebies, the BJP had also announced freebies in some places in the last five state elections.
Therefore, there is interest in this matter in the interim budget and it is not surprising that there is a proposal for free gifts. It is estimated that the central government will give priority to the amenities. Economic experts expect that the budget will emphasize on the development of ports, airports, railway stations and national highways. In addition, there are signs of relaxation in taxation related to house purchase and construction. Also, some changes are expected in the matter of subsidy of electric vehicles etc.
Possibility of benefit in tax:
There is an expectation of change in the income tax slab to benefit the salaried, middle class and pensioners. Currently, income above Rs 15 lakh is placed in the maximum tax slab. This limit is likely to be increased to Rs 20 lakh. In order to encourage savings, certain savings and payments can be exempted from income tax. On the other hand, it is said that there may be an increase in the limit of Section 80C.
Union Budget 2024 Expectation:
Expectation of welfare schemes for rural economic progress
Possibility of declaration of direct financial assistance transfer
Incentive measures due to failure of expected progress in agriculture sector
Central Government’s tendency to give high priority to tourism
More grants for this sector, more simplification of tax system
Reduction in home loan interest rates
Extension of e-commerce platform to small and medium industries
Implementation of UPI facility for international transactions as well
Reduction of tax rate for manufacturing units
Greater investment in digital infrastructure
Fixed grant facility for start-ups
Demand for reduction of GST on health insurances
Establishment of Artificial Intelligence Centers of Excellence
Growth of market expansion opportunities in EV sector.