The Interim Budget 2024-25 lays down a comprehensive framework for India’s continued economic progress, balancing fiscal prudence with strategic investments across key sectors. It aims to build on the country’s strengths while addressing critical areas of need, ensuring inclusive and sustainable development.
The Confederation of Indian Industry (CII)’s recommendations for India’s 2024 budget include a substantial increase in infrastructure spending to 12 trillion Indian rupees, advocating for the extension of interest-free loans to states. They propose the extension of a lower corporate tax rate for new manufacturing facilities and expansion of the Production Linked Incentive (PLI) scheme. CII also suggests a revision of import tariffs into a three-tier system and recommends changes in individual tax exemption limits and capital gains tax structures. Lastly, they call for increased government spending in healthcare and education sectors to enhance social infrastructure.
CII’s Comprehensive Recommendations for India’s 2024 Budget – Infrastructure, Manufacturing, Tax Reforms, and Social Sector Enhancement
The overarching theme of Budget 2024 seems to be enhancing India’s growth, resilience, and employment through strategic budget allocation and reforms in various sectors.
India Budget 2024: Balancing Growth and Sustainability Amid Diverse Sectoral Expectations
