The Union Budget 2024 for India reflects a balanced approach, focusing on sustainable economic growth, tax reforms, and strategic investments
to drive the nation forward.
The budget aims to reduce the fiscal deficit to 5.1% of GDP, down from 5.8% in the previous year.
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Monday 03 Feb. 2025
Emphasis on simplifying GST compliance and rationalizing tax rates to reduce the burden on businesses and consumers, Although there are no changes in the tax rates for both direct and indirect taxes, there is stability in the tax regime. However, tax benefits for startups and certain investments have been extended to support innovation and economic development.
Significant investments in infrastructure, including doubling the number of airports and extensive plans for new aircraft will boost the aviation sector, Initiatives to support education and skilling, Focus on green MSMEs and promoting circular economy practices, which aligns with global sustainability trends.
Overall, the Union Budget 2024 sets a comprehensive roadmap for achieving sustained economic development and addressing key challenges, positioning India for a prosperous future.
