Budget 2024: It's widely expected that GoI will adhere to the committed fiscal glide path in this budget, even though social spending may go up, helped by robust tax collections and RBI's dividend cheque of more than ₹2.1 lakh cr. Continuing capex early in the budget cycle has been a hallmark of this government, which will likely continue.
Key focus areas should include:
Jobs: Political compulsions and inclusive growth require increased focus on jobs. Job-intensive sectors like tourism, food and agriculture processing, and social infra to provide water and sanitation, education, and healthcare will aid inclusive growth. Tax incentives for these sectors for capital goods, skilling programmes and specific allocations from startup funds and finance will support their growth. Given GoI's mantra, incentives to encourage women-led development should find support in the budget.