Indian Budget Analysis- 2024 - Page 3

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Originally posted by: Moonks

IT slab👇

Thank you so much 😊 so basically till 3 lakhs income hai toh we don't need to fill tax, right?

Originally posted by: AuthorSneha

Thank you so much 😊 so basically till 3 lakhs income hai toh we don't need to fill tax, right?

Given benefits to corporates , not to salaries ppl .

focused on youth , poor , women , farmers . given benefits to boost defence , tourism , infra .

Originally posted by: NathuPaapi

I'm curious about that rooftop solar installation scheme mentioned in the budget. If implemented properly it will be a very good initiative.

Ya very good initiative. It less the burden on electricity board . What benefits the scheme offering .

Originally posted by: Manavi_kesari

Given benefits to corporates , not to salaries ppl .

focused on youth , poor , women , farmers . given benefits to boost defence , tourism , infra .

Sab kuch hoga over time. Right now as someone mentioned. He has approach of what is popularly known as reaganomics. I.e. massive infra build to grow and sustain a powerful economy. Deficit economics is ok for this as it fuels tremendous growth and in turn country progresses. Tax base grows.

Yaad rakhnaaa. Rome was not built in a day. Sab kuch hoga over time (already ho rahaan hain but pace will increase over time on what you saying)

also western world mein a lot of what you are saying is done by citizens and corporates - helping social structures. In a huge way.

Originally posted by: NathuPaapi

I'm curious about that rooftop solar installation scheme mentioned in the budget. If implemented properly it will be a very good initiative.

It’s fascinating to me. I will share sometime about my experience on this long ago. Superb initiative and good steps on all front towards energy needs. :)

Originally posted by: KJasoosChulbulP

It’s fascinating to me. I will share sometime about my experience on this long ago. Superb initiative and good steps on all front towards energy needs. :)

It’s already there long back but now govt increasing awareness n encouraging n speeding up

Originally posted by: vijay

I wanted to share my thoughts and verdict on the Indian budget that was announced today by Finance Minister Nirmala Sitharaman.

This is her sixth consecutive budget presentation, and it was an interim one, as the Lok Sabha elections are due later this year.

The budget speech was quite long, and you can read the full document here: Budget Speech 2024 PDF

But if you don't have the time or patience to go through the whole thing, here are some of the highlights that caught my attention, along with my opinion on them:

• The economy has witnessed a positive transformation in the last 10 years, and is expected to become the third-largest in the world in the next three years, with a GDP of $5 trillion . I think this is a commendable achievement, and shows the resilience and potential of our country. However, I also feel that there are still many challenges and gaps that need to be addressed, such as poverty, inequality, unemployment, and environmental issues.
  
  
• The government has increased the capital expenditure target to Rs 11.11 lakh crore, which is 21% higher than the previous year. This will boost infrastructure development and create more jobs . I think this is a good move, as it will stimulate the economy and improve the quality of life of many people. However, I also wonder how the government will finance this expenditure, and whether it will lead to higher fiscal deficit and debt.
  
  
• The government has proposed no change in direct and indirect tax rates, including import tax. This means no relief for taxpayers, but also no additional burden . I think this is a balanced decision, as it will maintain the stability and predictability of the tax system. However, I also feel that there could have been some relief for the lower and middle income groups, who have been hit hard by the pandemic and inflation.
  
  
• The government has extended the tax break for start-ups to March 31, 2025, and has also announced a fund of funds for start-ups with a corpus of Rs 10,000 crore . I think this is a great initiative, as it will encourage innovation and entrepreneurship in our country. However, I also hope that the government will ensure that the fund is disbursed efficiently and transparently, and that there is proper monitoring and evaluation of the start-ups.
  
  
• The government has announced interest-free loans to states to promote tourism, and has also allocated funds for the development of tourism in Lakshadweep . I think this is a welcome step, as it will boost one of the most important sectors of our economy. However, I also urge the government to ensure that tourism development is done in a sustainable and responsible manner, without harming the environment or the local culture.
  
  
• The government has announced several measures to empower women, such as increasing the maternity leave benefit from 26 weeks to 39 weeks, providing free sanitary napkins to all school girls, and launching a scheme to provide collateral-free loans to women entrepreneurs . I think this is a fantastic move, as it will enhance the welfare and dignity of women in our country. However, I also suggest that the government should also focus on other aspects of women empowerment, such as education, health, safety, and political representation

So these are some of the key points that I found interesting in the budget speech. Of course, there are many more details and nuances that I have not covered here. But I think this gives a fair overview of what the government has planned for the next financial year.

My verdict on the budget is that it is a balanced one, which tries to cater to different sections of society and different sectors of economy. It does not have any major surprises or shocks, but also does not have any major reforms or incentives. It seems to be a safe and cautious budget, which reflects the pre-election mood of the government assuming that they are going to come back in 2024 General Election.

Thanks for reading!

Great summary. I feel budget is a huge event in India since a long time.

I like this interim budget as some degree of more of the same is needed. Stability create karnaaa zarorreee hain over time as it creates certainty for all sectors.

What I am looking to see progress ..ideally annually is tax bracket where limits are raised annually in some increment. So say from 15 lacs to 20 lacs etc. but I am confident it will happen in time. And some tax incentives for investments in key manufacturing (high end precision manufacturing that brings technology home, r &d etc) and infrastructure like US has done in the past.

overall v balanced and good. Results are showing in any case on the tremendous progress and growth trajectory.

My 2 cents.

Originally posted by: Manavi_kesari

It’s already there long back but now govt increasing awareness n encouraging n speeding up

Haan. I have experience in this since a long time. IREDA ke saath partnership mein bhee kaam keeya hain..

Since then technology has come a long way. Costs have reduced ..COVID had distorted it for a bit but now better …

System integrator for this kind of stuff will be an extremely profitable business if anyone is looking for business ideas.