Budget expectations 2024-25: Suman Bannerjee, CIO, Hedonova

23 Jul 2024 , 10:25 AM

As Budget 2024 approaches, to be presented at the onset of the Modi Government’s third term, expectations are high across various sectors. The potential reduction in income tax rates and the increase in the income threshold to ₹5 lakh are expected to significantly benefit the middle class by enhancing disposable incomes and boosting consumer spending. We expect that the budget will introduce policies aimed at stimulating investment, fostering innovation, and driving overall economic growth. The government’s commitment to fiscal prudence, coupled with initiatives for economic inclusivity, will be crucial in creating a resilient and dynamic economy. Key sectors such as infrastructure, manufacturing, and technology are hopeful for incentives and support to drive sustainable development. We anticipate that this budget will present an opportunity to address pressing economic challenges and lay a robust foundation for future growth, reflecting a commitment to progress and prosperity for all.