New Delhi: If the Modi 3.0 Government announced tax relief for the middle-class and salaried individuals in the upcoming Budget 2024, it is expected to bolster purchasing power and stimulate increased consumption patterns, Saugata Gupta, MD & CEO of Marico Ltd said in a statement. Gupta emphasised the importance of sustained investments in rural development, particularly in infrastructure and employment sectors, to bolster agricultural activities and uplift rural incomes in the fiscal year 2024-25.
Promoting Inclusive and Sustainable Development
We anticipate policies focused on promoting inclusive and sustainable development,” Gupta stated, outlining expectations for the budget. Gupta underscored the critical role of government support during the monsoon season in stabilising rural economies and ensuring farmers’ access to essential resources. Acknowledging the government’s commitment, Gupta noted initiatives such as the extension of the free food grain scheme till 2028, aimed at sustaining rural consumption, improving living standards, and controlling inflation.
Encouraging Private-Sector Investments
We look forward to initiatives that encourage private-sector investments in infrastructure,” Gupta added, emphasising their potential to create jobs and enhance productivity. Highlighting digital adoption and entrepreneurship as catalysts for economic growth, Gupta emphasized the role of policies promoting innovation and efficiency.
Optimism for Economic Recovery
Gupta expressed optimism that Budget 2024-25 would lay the groundwork for a resilient economic recovery, empowering businesses and contributing to India’s growth trajectory. Finance Minister Nirmala Sitharaman is scheduled to present the full budget on July 23, 2024, setting the stage for anticipated economic reforms and policy announcements.
When will Budget be presented?
Finance Minister Nirmala Sitharaman is scheduled to deliver the Union Budget at 11:00 am on July 23. The presentation in the Lok Sabha will be broadcast live on various government channels including national broadcaster Doordarshan, Parliament’s channels, and the Government of India’s YouTube channels, in addition to Sansad TV. For those preferring to watch the budget speech online and access budget documents, the government’s official portal http://www.indiabudget.gov.in will livestream the event and provide access to key documents.
Budget 2024 expectation: Finance Minister Nirmala Sitharaman is scheduled to present the full budget on July 23, 2024, setting the stage for anticipated economic reforms and policy announcements. Economy Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
