Union Budget 2024: Key Expectations and Sectors at Spotlight

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As the Union Budget 2024 approaches, anticipation is high, and expectations are emerging from various quarters. Let's delve into what major market veterans and experts foresee:


1. Infrastructure Development:

   - With India's robust GDP growth, the budget is likely to prioritize infrastructure development. Sectors such as railways, renewable energy, and defense may receive increased allocations.


   - Investors are keenly watching for announcements related to mega infrastructure projects and modernization initiatives.


2. Tax Relief and Standard Deduction:

   - Many hope for an increase in the standard deduction limit for income tax. Such a move would provide relief to salaried taxpayers.


   - The budget may also address tax benefits for specific sectors or investment avenues.


3. Manufacturing and Make in India:

   - Expectations are high for measures that boost domestic manufacturing and promote the "Make in India" initiative.


   - Incentives for setting up new manufacturing units and enhancing existing ones could be on the agenda.


4. Green Initiatives and Clean Energy:

   - Given the global focus on sustainability, the budget may allocate resources to green energy projects.


   - Incentives for electric vehicles (EVs), solar power, and other clean technologies are anticipated.


5. Fiscal Prudence vs. Populism:

   - Finance Minister Nirmala Sitharaman faces the delicate task of balancing populism with fiscal consolidation.


   - While significant changes may not be expected, incremental adjustments to boost infrastructure and manufacturing are likely.


As the economic symphony unfolds, investors and businesses must stay attuned to nuances and potential risks. The Union Budget 2024 holds the promise of shaping India

's economic future. 🌟📊🇮🇳


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