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Nirmala Sitharaman, the Finance Minister of India, is all set to unveil the upcoming Union Budget as of February 1st, 2024. With the final stage of preparations commencing with the ‘Halwa’ ceremony yesterday, the Indian financial landscape embraces itself as the date for the budget release nears.
Nirmala Sitharaman’s reputation precedes herself, as the previous budgets were also fashioned out by her. Intriguingly, even the longest budget speech delivered to date was also given out by Sitharaman, lasting for 2 hours and 40 minutes.
Simultaneously, as the upcoming budget nears, the economy expects key changes within the nation’s numerous spending and allocations across various sectors.
Union Budget Expectations: Four Groups In Focus
Union Finance Minister Nirmala Sitharaman said that the government policies will focus on four groups identified by Prime Minister Narendra Modi: Youth, women, farmers and the poor.
Union Budget Expectations: Regulatory Clarity
Voices are growing in favor of rationalizing taxes and offering regulatory clarity to support the crypto industry in India. Reducing Tax Deducted at Source (TDS) rate and the flat taxes are among the demands.
Union Budget Expectations LIVE: Budget Boost To Farmers
In a budget 2024 boost to farmers, the Union government is likely to increase the agriculture credit target in the forthcoming interim Budget.
Union Budget Expectations LIVE: ISPA Eyes GST Exemption
The Indian Space Association (ISPA) appears to be expecting GST exemption for satellite firms within the nation. Furthermore, the organization also eyes a tax holiday in the Union Budget 2024.
Union Budget Expectations LIVE: Tourism Boost Expected
EaseMyTrip CEO Nishant Pitti foresees a tourism boost with the upcoming Union Budget.
Union Budget Expectations LIVE: A Jack-Up In Social Securities Much Awaited
Tarun Chugh, CEO of Bajaj Allianz Life Insurance, recently stated that support from the government is much needed in the areas of social securities such as Pensions and Insurance. However, the trend appears to be moving in the other direction as a new tax regime looms, taking up all the benefits.
Union Budget Expectations LIVE: Godrej Capital CEO States Better Access To Credit Much Needed
Manish Shah, the MD and CEO at Godrej Capital, recently stated that beleaguering should not be done. Aligning with this, the CEO noted the need for better and timely access to credit that works for everyone within the nation, especially small businesses.
Union Budget Expectations LIVE: Private Capex Expected To Increase
In a recent discussion among industry experts in India, the CEO and MD of TMB (Tamilnad Mercantile Bank), Shri S. Krishnan, stated that a rise in Private Capex is much sought and expected to come within the budget. With this, the economy can leverage the surge in job opportunities.
Union Budget Expectations LIVE: AEPC Eyes Tax Incentives
The Apparel Export Promotion Council (AEPC) beseeches the Indian government for more significant tax incentives, uniform GST rates, increased interest subsidies, and many others ahead of the Union Budget 2024.
Ahead of the Union Budget, the Apparel Export Promotion Council (AEPC) urges the Indian government for tax incentives, uniform GST rates, increased interest subsidies, and budgetary support for branding and marketing.
Read more at: https://t.co/KFyKS0peFN
— Trade Promotion Council of India (@TPCI_) January 25, 2024
Union Budget Expectations LIVE: Finance Minister States 13 Sunrise Sectors Of High Priority
While addressing the Hindu College, Delhi University recently, the Indian Finance Minister stated that 13 sunrise sectors are highly prioritized in the upcoming budget. These sectors encompass renewables,
semiconductors, machine learning, material science, earth sciences, space, etc.
Union Budget Expectations LIVE: Crypto Sector Remains Untouched
Aligning with the announcement of no significant changes in February’s budget, the crypto sector remains calm for now. Although with the conclusion of general elections midway through 2024, India’s crypto community expects less scrutiny in taxes orbiting cryptos.
Union Budget Expectations LIVE: Nirmala Sitharaman States No Important Announcements for Feb 1st Budget, Here's Why
The Indian Finance Minister, Nirmala Sitharaman, said she did not want to be a spoiled sport. However, it is a matter of truth that the upcoming budget as of February 1 will just be a vote on account, aiming to satisfy the current ruling government’s expenditure.
Furthermore, all significant announcements will be withheld until the general elections in July 2024, following which noteworthy announcements orbiting the budget are also expected as a new government is formed.
Union Budget Expectations LIVE: Indian Agritech Startups Stay Optimistic
As the previous year’s budget included some of the key announcements for the emerging Indian agritech startup sector, the industry appears to be eyeing this year’s budget with optimism as well. Notably, with no tax incentives declared the previous year, Indian agritech startups are eyeing a specially fashioned incentive this year.
As Finance Minister Nirmala Sitharaman is preparing to unveil the interim Budget on February 1, Indian agritech startups have big hopes from the upcoming Union Budget.
A thread🧵: (1/6)
— Inc42 (@Inc42) January 25, 2024
Union Budget Expectations LIVE: Burgeoning Layoffs Ignites Concerns
Urban Indians seem alarmingly concerned with the constant surge in job layoffs, eventually resulting in job insecurities nationwide. As India’s economy advances further, citizens hope to see additional benefits in the upcoming budget.
Union Budget Expectations LIVE: Railway Stocks On The Rise Sparks Speculations
As the interim Union Budget 2024 nears, railway stocks across the nation appear to be noting an uptick. This might suggest that the Railways sector is poising to witness major shifts form pre-existing allocations and spending.
