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Union Budget 2024: Expectations for Economy and GST Reforms

Union Budget 2024

Union Budget 2024 Release Date

Till now the coming Union Budget 2024 exact date is not known. Normally, the full-year budget is presented in the first or second week of July in general election years.

The first budget of Modi 3.0 that FM Nirmala Sitharaman will present is anticipated to concentrate on the measures to elevate economic growth without harming Inflation.

Most Important Essential Policy Priorities

  • To continue economic growth, keeping the momentum in capital expenditures is important, with investments in infrastructure and development projects.
  • Addressing issues in the agriculture sector to reduce the stress in the agriculture sector, assuring the welfare of farmers and agricultural productivity.
  • Concentrating on creating employment chances. Job creation is an influential focus, with the policies that are targeted to generate employment opportunities across various sectors.
  • Assuring the growth in the revenue to comply with the fiscal consolidation.

Strong and Managed Economy

The government is beginning with a robust and well-managed economy. A large financial boost amounting to Rs 2.11 lakh crore for the FY 2024 has been allotted by the Reserve Bank of India (RBI).

GST Tax Reforms

To implement GST 2.0, the GST Council will be required to address tax rate and slab rationalisation, improving the tax system’s efficiency.

Quickly GST Reforms for $5 Trillion Economy

The budget comprises the initiatives to accomplish the goal of making India a $5-trillion economy and a ‘Viksit Bharat’ by 2047.

Growing Scope of the Ayushman Bharat Scheme

Expanding the Ayushman Bharat scheme to contain senior citizens aged 70 and above is an influential move to enhance their access to health insurance.

Disclaimer:- "All the information given is from credible and authentic resources and has been published after moderation. Any change in detail or information other than fact must be considered a human error. The blog we write is to provide updated information. You can raise any query on matters related to blog content. Also, note that we don’t provide any type of consultancy so we are sorry for being unable to reply to consultancy queries. Also, we do mention that our replies are solely on a practical basis and we advise you to cross verify with professional authorities for a fact check."

Published by Arpit Kulshrestha
Arpit Kulshrestha seeks higher interests in financial services, taxation, GST, I-T, etc. Writes articles with depth knowledge and is extensive for the same. The resources provide effective articles for the products of SAG infotech which provides taxation and IT software. Writing from observations and researching makes his articles virtuous. View more posts
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