With the Interim Budget 2024 around the corner, expectations are running high. Despite it being a vote-on-account budget, there is hope among corporate India that Finance Minister Nirmala Sitharaman may tweak some tax rates and extend some sops to keep the wheels of the economy turning smoothly, as the government keeps an eye on the General Elections this year. There are likely to be a fair number of initiatives that will elevate the grassroots in India for all-round inclusive growth.
FinancialExpress.com spoke with a panel of experts from Deloitte India to get their views on the Budget. Deloitte had conducted a pre-budget survey which posts an optimistic picture of India’s economy, with corporate India anticipating a robust 6-6.5% growth in the next financial year. This sentiment is buoyed by factors like improving infrastructure, robust corporate profits, and optimistic equity markets.
Some of the highlights the experts point out and which are corroborated with the survey include a focus on green energy, continued push on infrastructure, incentives for manufacturing, building skill sets especially in areas like AI and focussing on reducing the fiscal deficit.
Also read: Industry leaders share wishlist for Interim Budget announcements
Watch the discussion with Deloitte experts including Sumit Singhania, Partner, Deloitte India (Direct Tax), M S Mani, Partner, Deloitte India (Indirect Tax), Debashish Biswas, Partner, Deloitte India (Infrastructure), Pravin Govindu, Partner, Deloitte India (Consumer) and Dr. Rumki Majumdar, Economist, Deloitte India (Economy).