Budget 2024 Expectations LIVE: What corporates, industries, experts, taxpayers want from Nirmala Sitharaman's 7th Budget

Budget 2024 Expectations LIVE: Hoping for initiatives to boost electronics manufacturing industry, says Elista CEO

"Differential tax rates and an expanded PLI scheme can promote local manufacturing, attract investment, drive innovation, and create jobs," says Elista CEO Pawan Kumar.  

"Incentives based on overall revenue and reduced corporate tax rates will help businesses thrive. Simplifying compliance, prioritizing R&D, and optimizing supply chains are essential for the consumer durables industry to flourish... Lowering GST on these products from 28% to 18% will boost sales and stimulate economic growth. Clear policies and stable regulations will encourage new product launches and meet evolving consumer needs. A comprehensive approach will build a robust economy, create high-quality devices, and foster national prosperity," adds Kumar. 

Budget 2024 Expectations LIVE: Economic Survey underscores success of government's PLI scheme in boosting domestic electronics exports, says ZETWERK's Rahul Sharma

ZETWERK Co-founder Rahul Sharma says that the PLI scheme has transformed India's electronics trade with the US while the mobile phone segment has witnessed phenomenal growth, with exports to the US jumping from $2.2 billion to $5.7 billion in just one year.

"The consumer electronics boom has also fueled job creation. This sector employs around 2% of the total workforce and has seen a staggering 66% increase in jobs between FY18 and FY22. While celebrating this progress, we also need to emphasise the importance of value addition across all categories – mobile phones, accessories, white goods, and IT hardware," says Sharma. 

"The Electronic System Design and Manufacturing (ESDM) sector also seeks a level playing field that fosters fair competition. This includes policies that ensure equal opportunities for participants of all sizes and origins, enabling value addition and backward integration throughout the industry," he adds. 

Budget 2024 Expectations LIVE: Incorporating Li-ion battery recycling incentives within PLI scheme to deter export of depleted batteries & aid growth of domestic recycling capabilities, says Attero's Nitin Gupta

"As India accelerates its journey towards achieving net-zero goals by 2070 through renewable energy and transitioning to cleaner energy forms, it is crucial to establish a holistic circular economy. The recent budgets have focused on renewable energy but equal attention on recycling is critical for achieving the set targets," says Nitin Gupta, CEO and Co-Founder of Attero.

"The Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) program should be extended and potentially expanded to accelerate recycling of waste batteries. This extension is vital for maintaining the momentum behind EV adoption and encouraging battery recycling," Gupta adds. 

Budget 2024: Economic Survey highlights prevailing strengths of economy, showcases outcomes of various reforms, tweets PM Narendra Modi

The Economic Survey highlights the prevailing strengths of our economy and also showcases the outcomes of the various reforms our Government has brought.

It also identifies areas for further growth and progress as we move towards building a Viksit Bharat.…

— Narendra Modi (@narendramodi) July 22, 2024

"It also identifies areas for further growth and progress as we move towards building a 'Viksit Bharat'," he added. Read more

Budget 2024 Expectations LIVE: Gap in RBI expectation & Economic Survey in terms of potential growth rates of economy, says Tata Asset Management's Murthy Nagarajan 

Murthy Nagarajan, Head-Fixed Income at Tata Asset Management, mentions a gap in RBI expectations and the Economic Survey in terms of potential growth rates of the economy, pointing out the following: 

• Economic Survey targets GDP growth of 6.5-7% in FY25
• RBI CPI inflation projection at 4.5 and 4.1 for FY25 & FY26
• They are targeting 6% long-term GDP growth rate, which translates to nominal GDP growth rate of 9.5-10.5%
• Public debt-to-GDP ratio expected to come down in the coming years due to higher nominal growth rate 
• In June bulletin, RBI estimated real rate of interest at 1.4-1.9% due to higher potential growth rate of the economy

"Consumption expenditure forms 55% of the economy which is growing at 4% while the economy grew by 8% last year as per the Economic Survey. Additional trust is expected from the monetary authorities to achieve GDP growth over 6% in the coming years. As CPI inflation moves towards 4-4.5%, we can expect 50-75 basis points of rate cuts by the RBI to support economic growth," adds Nagarajan.

Budget 2024 Expectations LIVE: Hope Budget introduces incentives for banks & associated tech ecosystem, says Zeta's Ramki Gaddipati 

Ramki Gaddipati, CEO-APAC and Global CTO at Zeta, says that India already boasts of some of the most impressive Digital Public Infrastructure (DPI) and payment rails today including ground-breaking new protocols such as Credit Line on UPI.

"As a provider of next-generation banking solutions to large financial institutions, we hope that the Union Budget 24-25 will introduce further imperatives and incentives for banks and the associated technology ecosystem to create even more financial inclusion for the underserved Indians," says Gaddipati.

Budget 2024 Expectations LIVE: Budget to likely create enough intraday volatility on Tuesday, says HDFC Securities' Deepak Jasani  

"Nifty formed a doji like pattern on July 22 after recovering well from early morning weakness, though ending marginally in the negative," says Deepak Jasani of HDFC Securities.

"The Union Budget presentation on July 23 will likely create enough intraday volatility (on that day). Nifty could face resistance at 24,661 and later at 24,801 in the near term while 24,141 could provide support on falls," Jasani points out. 

Budget 2024 Expectations LIVE: Urge government to consider increasing deduction limit for interest on home loans from Rs 2 lakh to Rs 5 lakh, says Omaxe's Mohit Goel 

"A crucial aspect is the need for augmented tax benefits for both homebuyers and investors. We urge the government to consider increasing the deduction limit for interest on home loans from the current Rs 2 lakh to Rs 5 lakh annually, which could dramatically boost housing demand. Additionally, reducing the GST on under-construction properties and adjusting the pricing of raw materials would further stimulate the market," says Mohit Goel, Managing Director, Omaxe. 

"These changes are essential not just for energizing the sector but also for driving demand in approximately 250 related industries," Goel adds. 

Budget 2024 Expectations LIVE: Expect continuous support through affordable rental housing incentives, significant tax benefits for first-time homebuyers, says Manglam Group's Amrita Gupta 

"The present scenario of soaring property prices demands immediate policy measures. Firstly, we are hopeful that the government will increase the interest rate deduction cap to Rs. 5 lakh. Such a move will significantly lighten the financial load on homebuyers. Additionally, redefining 'affordable housing' to accommodate the realty prices could dramatically widen the pool of beneficiaries. Moreover, we expect continuous support through incentives for affordable rental housing and significant tax benefits for first-time homebuyers," says Amrita Gupta, Director of Manglam Group and Founder President of CREDAI Rajasthan Women's Wing> 

"The reintroduction of GST with an input tax credit can catalyze construction activities by reducing the overall project costs, which ultimately benefits buyers. Proposals can also include broad tax reliefs, a streamlined single-window clearance process, a reduction in home loan interest rates, and a revitalization of subvention schemes," adds Gupta.

Budget 2024 Expectations LIVE: Budget anticipated to favour homebuyers, support real estate sector's growth, says Axis Ecorp CEO  

"The recent focus on affordable housing is expected to continue, especially with FM Nirmala Sitharaman's Interim Budget announcement of adding 2 crore more houses to the PMAY-U scheme. A similar emphasis on affordable housing in the upcoming budget would be beneficial," says Aditya Kushwaha, CEO and Director, Axis Ecorp. 

"Tax rationalisation for construction raw materials and reduced approval costs are crucial to creating a more conducive environment for investment and development. Transparency has significantly boosted the real estate sector and further prioritised it by strengthening RERA and enhancing digital platforms for property transactions can foster trust and reduce fraudulent activities," says Kushwaha. 

"Streamlining project approvals through a single-window clearance system is essential to address approval delays, which are significant bottlenecks. Additionally, continued focus on infrastructure projects will benefit the real estate sector and boost the travel and tourism industry," he adds. 

Budget 2024 Expectations LIVE: ELSS MF investments should not be restricted to multiples of Rs 500, says AMFI

Industry body Association of Mutual Funds in India (AMFI) has suggested that Equity Linked Savings Scheme (ELSS) rules be amended to permit any amount to be invested in the scheme, instead of in multiples of Rs 500. According to the mutual fund industry body, the proposed modification will help in “mitigating the hardship to investors and mutual funds. It is also pertinent to mention here that there would not be any revenue loss by the introduction of the proposed amendment.”

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Budget 2024 Expectations LIVE: Mutual fund body seeks pension-focused schemes with NPS-like tax benefits

Industry body Amfi has suggested that the government should allow mutual funds to offer pension-focused schemes - Mutual Fund Linked Retirement Schemes (MFLRS) - with similar tax benefits as the National Pension System (NPS).

In its Budget proposals to the Finance Ministry, the industry body has proposed that the tax treatment for NPS and Retirement/Pension oriented schemes launched by Mutual Funds should be aligned by bringing the latter also under Section 80CCD of Income Tax Act, 1961.

Read more

Budget 2024 Expectations LIVE: Reintroduction of rebate for Section 88E to result in larger collection of STT/CTT, says ANMI

The Association of National Exchanges Members of India (ANMI) has suggested several steps that can benefit market participants on Dalal Street, including a proposed reintroduction of rebates under Section 88E for Securities Transaction Tax (STT) and Commodity Transaction Tax (CTT).

Read more

Budget 2024 Expectations LIVE: Will the new income tax regime be made more attractive?

All eyes are on Finance Minister Nirmala Sitharaman on Tuesday as she presents her seventh Union Budget in Parliament at 11 am.

Like every year, this year too there are a lot of hopes around potential reforms to reshape the country's income tax landscape. 

"To boost consumption in the economy, some relief is expected for the middle class in terms of income tax," says Sunil Nyati, Managing Director, Swastika Investmart. 

Read more

Economic Survey: 'Indian economy on a strong wicket & stable footing, demonstrating resilience amidst geopolitical challenges'

Finance Minister Nirmala Sitharaman today tabled the Economic Survey for the financial year ended March 2024. Prepared by a team of economists led by the govenrment's Chief Economic Advisor V Anantha Nageswaran, the Economic Survey states that the economy continues to expand while timely intervention by the central government and the RBI has helped contain retail inflation in the country at 5.4 per cent. 

"The Indian economy is on a strong wicket and stable footing, demonstrating resilience in the face of geopolitical challenges," stated the Economic Survey for FY24. It "has consolidated its post-COVID recovery with policymakers -- fiscal and monetary -- ensuring economic and financial stability. Nonetheless, change is the only constant for a country with high growth aspirations," according to the Survey.

Image: Pexels

Check out key takeaways from Economic Survey FY24

Budget 2024 Expectations LIVE: How economist view Economic Survey FY24 

Infomerics Ratings Chief Economist Dr Manoranjan Sharma points out that India is well-positioned because of its 'Mission Mode' approach to overcoming lingering issues, after the Economic Survey pegs economic growth at 6.5-7 per cent in FY25 citing "evenly-balanced" risks.  

"The trade deficit was lower in FY24 than in FY23, and the current account deficit for the year is around 0.7 per cent of GDP," Dr Sharma highlights. 

Budget 2024 Expectations LIVE: Market optimistic about controlling inflation, says Angel One's Aamar Deo Singh 

Aamar Deo Singh of Angel One believes that the markets are optimistic about controlling inflation while also emphasising continuous economic expansion without compromising capital investment.

"Because of the high valuations and the requirement for more capital infusion into the economy, there is also a chance that disinvestment in PSUs would experience increased buoyancy. This Budget is projected to put a focus on industries including infrastructure, FMCG, fertilisers, healthcare, and defence," says Singh. 

Budget 2024 Expectations LIVE: Prudent that investors exercise caution ahead of Budget, says Angel One's Aamar Deo Singh 

Aamar Deo Singh of Angel One believes that it is prudent that investors exercise caution ahead of the Budget and consider investing opportunities once the Budget's fine print is released. 

Budget 2024 Expectations LIVE: Budget expected to focus on industries such as infra, FMCG, fertilisers, healthcare, defence, says Angel One's Aamar Deo Singh 

Aamar Deo Singh of Angel One points out that the markets are optimistic about controlling inflation while also emphasising continuous economic expansion without compromising capital investment.

"Because of the high valuations and the requirement for more capital infusion into the economy, there is also a chance that disinvestment in PSUs would experience increased buoyancy," says Singh.  

Budget 2024 Expectations LIVE: Budget probably going to be more consumption-focused, says Angel One's Aamar Deo Singh 

Aamar Deo Singh of Angel One is of the view that the upcoming Budget will be a litmus test for the administration given that it is the first coalition government post-2014. The markets, investors, and the people of this nation have high expectations from the Budget, says Singh. 

 "This budget is probably going to be more consumption-focused, with a stronger focus on lower-class and rural households. It is also highly predicted that social spending in both rural and urban areas will increase, and that lower income slabs may receive tax breaks," Singh adds.  

Budget 2024 Expectations LIVE: Affordable housing should be among most important long-term agendas for India, says SMFG Grihashakti's Deepak Patkar

“Significant changes in socio-economic and urbanisation indicators necessitate a realignment of affordable housing definition in many of the cities and towns," says Deepak Patkar, MD and CEO, SMFG Grihashakti.

"There is also a need to appropriately incentivise developers to increase the supply of affordable green housing.  Given the success of the earlier PMAY scheme, we eagerly await the revised contours of the PMAY-U 2.0 scheme which promises to focus on improved targeting of beneficiaries and provide timely disbursement to completed homes. We hope that the Union Budget for 2024-25 will provide directions to consolidate efforts towards 'Housing for All' initiative across all strata," says Patkar.

Budget 2024 Expectations LIVE: Government should look at charging digital payments like UPI, says Financial Software and Systems CEO V Balasubramanian

"Keeping in mind the government’s vision of Viksit Bharat, with India expected to become a developed country by 2047, Indian payment systems will play a big role in the years to come, not only in India but globally as well. And banks will be central to the growth of this ecosystem," says Financial Software and Systems CEO V Balasubramanian. 

"The government should look at charging digital payments like UPI which will allow banks to build robust payment infrastructure and security standards enabling fast, simple and secure payments while protecting the end consumers against frauds and cyber security threats. Apart from this, the government should also focus on building a payment platform in Cloud for banks. This is where Cloud technology can play a major role in empowering banks to be more agile, cost-effective and collaborative in their endeavours to make digital payments safe and secure," says Balasubramanian.

Budget 2024 Expectations LIVE: Market closely monitoring developments related to capital gains tax, says analyst

Naveen Kulkarni of Axis Securities PMS points out that the market is closely monitoring developments related to the capital gains tax.

"Any deviation from market expectations could lead to some short-term unfavourable reaction, although the likelihood of this happening seems low," says Kulkarni.

Budget 2024 Expectations LIVE: FY25 fiscal deficit target to be below 5.1%?

Naveen Kulkarni of Axis Securities PMS expects the fiscal deficit for FY25 to be kept below 5.1%, with a goal of reaching 4.5% by FY26.

Budget 2024 Expectations LIVE: Budget to likely support vision of 'Viksit Bharat' by 2047, says Naveen Kulkarni of Axis Securities PMS

Naveen Kulkarni of Axis Securities PMS believes that the upcoming Budget will likely support the vision of 'Viksit Bharat' by 2047, following a transformation similar to the one seen in the last decade.

"With the formation of the NDA 3.0 government, there are increasing expectations from the market for some allocation to address rural challenges and a potential cutback on capital expenditure. The Budget is expected to strike a balance between capital expenditure and addressing rural challenges. Moreover, a higher-than-expected RBI dividend has provided some flexibility to progress further with welfare schemes. We anticipate that the government's priority will continue to be achieving and maintaining macro stability by following a path of fiscal consolidation while balancing growth and stability," says Kulkarni.

Budget 2024 Expectations LIVE: Increased focus on capex in Budget to send a good signal to markets & investors domestically & globally, says HDFC Securities' Deepak Jasani

"India's current capital gains tax structure is complex, with multiple rates depending on the type of capital asset and the holding period. There is a need to simplify this. However, in case this results in higher tax outgo or a longer holding period in listed securities, the markets may react adversely in the short term. As some fears on this count are getting discounted, the markets may react positively to status quo on this," says Deepak Jasani of HDFC Securities.

"We don’t think that there would be any major changes to the capital gains tax although we do not rule out higher tax burden in some form on the urban rich," Jasani adds.

Budget 2024 Expectations LIVE: Budget could see government paving way for foreign-domiciled Indian startups to flip their corporate headquarters back to India, says HDFC Securities' Deepak Jasani

According to Deepak Jasani of HDFC Securities, the upcoming Union Budget could see the government paving the way for foreign-domiciled Indian startups to flip their corporate headquarters back to India — via the special economic zone of GIFT City — with minimal tax implications and to woo other companies to the GIFT City with tax-breaks and other sops.

The MSME sector could receive special mention by way of measures to ease capital raising and relax norms for the recognition of NPAs by banks, Jasani adds. 

Budget 2024 Expectations LIVE: Budget could bring benefits to affordable housing, industrial/engineering, consumer goods sectors, says HDFC Securities' Deepak Jasani

"The Budget could bring benefits to several sectors, including affordable housing, Industrials/Engineering, Consumer goods etc. The NDA 3.0 has already announced the decision to help 3 crore additional rural and urban households for the construction of houses," says Deepak Jasani of HDFC Securities.

Budget 2024 Expectations LIVE: Budget could largely retain revenue & expense projections made in Interim Budget, says HDFC Securities' Deepak Jasani

Deepak Jasani of HDFC Securities believes the forthcoming Union Budget could continue the roadmap laid out in the previous Budgets barring a small course correction.

Here are some highlights of what the analysts said:

It could largely retain the revenue and expense projections made in the interim Budget (except for the windfall dividend from RBI) This additional receipt from the RBI could be used to:

• cut the fiscal deficit target to 5.0% for FY25 from 5.1% in Interim Budget
• make higher transfers to states for capex spend
• increase transfer under PM KISAN from Rs 6,000 p.a. to Rs 7,500 p.a.
• provide incentives to income taxpayers to shift to the new tax regime by providing higher standard and other deductions/higher exemption limit/changes in tax slabs

Budget 2024 Expectations LIVE: Budget policy outlook key to sustaining recent Nifty50 rally, says InCred

According to brokerage InCred Equities, the sharp post-election results rally on Dalal Street has been aided by a reversal in foreign institutional investors’ flows into the positive territory and a sustained inflow into domestic mutual funds.

"Considering the slow start to earnings growth in 1Q, policy direction in the upcoming Budget will be key to sustain it, as the forward P/E premium of India over MSCI emerging markets has touched +2SD above the mean level," according to InCred.

The brokerage maintains its Nifty50 target of 25,683, with a preference for largecap stocks. "We maintain our Overweight rating on the capital goods, cement, electronics manufacturing services (EMS) and financial sectors," it adds. 

Budget 2024 Expectations LIVE: Economic momentum provides comfort, says InCred

The July 23 Budget comes at a time when several economic parameters have staged steady improvements, including IIP, tax collections, CAD, fiscal deficit and GDP expansion.

InCred Equities has pointed out that easing credit growth and a marginal rise in core inflation from its lows are a cause of concern. "Improvement in monsoon rains in recent days should sustain the rural recovery signs witnessed in recent quarters," the brokerage adds. 

Budget 2024 Expectations LIVE: Budget hopes on the rise, earnings tepid, says InCred

Brokerage InCred Equities pointed out last week that macroeconomic tailwind benefits give fiscal headroom to accommodate multiple stakeholders’ demands and yet improve on the fiscal deficit front in the upcoming Budget.

Budget 2024 Expectations LIVE: An increase in tax-free long-term capital gain (LTCG) limit to benefit long-term MF investors, says NC Financial Advisory Services' Nitin Chaudhary

NC Financial Advisory Services (NCFAS) Founder Nitin Chaudhary believes three things could benefit long-term mutual fund investors:

• Increase in tax-free long-term capital gain limit: The current tax-free limit of ₹1 lakh should be revisited and increased to encourage long-term investments.
• Enhanced capital account convertibility: From an investor’s perspective, the government should consider increasing the remittance limit under the Liberalized Remittance Scheme (LRS) from $2.5 lakh for investment purposes, thereby promoting greater flexibility and opportunities for investors.
• Lower LTCG tax for longer holding periods: To reward patient investors, a lower LTCG tax rate should be implemented for investments held for more than five years.

Budget 2024 Expectations LIVE: Hopeful that Budget will include steps for integration of smart innovation in luxury realty developments, says Goldmedal Electricals' Kishan Jain

"We are hopeful that the upcoming budget will include measures to promote the integration of smart innovation in luxury real estate developments, further driving demand for advanced electrical products. Significant investments in energy transformation initiatives are expected, which are crucial for achieving India’s ambitious goal of net-zero carbon emissions by 2070," says Kishan Jain, Director at Goldmedal Electricals. 

"This will accelerate the adoption of energy-efficient solutions powered by cutting-edge technology and automation. Additionally, policy measures and tax incentives can significantly boost domestic manufacturing and promote sustainable practices within the consumer durables and fast-moving electrical goods (FMEG) sectors," Jain adds. 

Budget 2024 Expectations LIVE: Centre to remain focused on infra spending?

According to Zee Business research, the central government is likely to remain focused on infrastructure-related spending.

In Interim Budget, presented on February 1 this year, a sum of Rs 11.1 lakh crore was earmarked as capex for the sector. 
 

Budget 2024 Expectations LIVE: What to expect in food processing?

• Setting up of food processing units
• Taking Indian brands to global markets
• Clearing various misconceptions regarding processed foods

Read more on what to expect in upcoming Budget 

Budget 2024 Expectations LIVE: What to expect for telecom space?

• Demand to cancel the rule of deducting 5 per cent of AGR for the Universal Service Obligation Fund (USOF) till the existing fund is exhausted   
• Hope that duties may be removed on 4G/5G telecom gear   
• Hope that license fees may be reduced to 1 per cent from 3 per cent

Budget 2024 Expectations LIVE: What to expect for logistics space? 

The upcoming Budget may bring steps to promote the logistics sector, with a focus on improving rail, shipping and road connectivity. 

Budget 2024 Expectations LIVE: A higher allocation for Ayushman Bharat Pradhan Mantri Jan Arogya Scheme?

According to Zee Business research, a higher allocation is likely the Ayushman Bharat Pradhan Mantri Jan Arogya Scheme. 

Additionally, the inclusion of more serious diseases is on the cards under the coverage of the scheme.

Budget 2024 Expectations LIVE: A hybrid vehicle push in upcoming Budget?  

The upcoming Budget is likely to bring incentives to promote hybrid cars (similar to those available for EVs) as well as a policy for steps to promote EV charging infrastructure in the country. 

Budget 2024 Expectations LIVE: FAME-III scheme on the cards?

According to Zee Business research, the upcoming Budget is expected to announce a FAME-III scheme with an outlay of Rs 10,000 crore for the auto sector.

Budget 2024 Expectations LIVE: Can you expect higher income tax benefit on home loan?

According to Zee Business research, the upcoming Budget may enhance the income tax deduction limit available on home loans.

Currently, income tax assessees can claim a deduction on the interest paid on home loans under Section 24 of the Income Tax Act. For a self-occupied property, the maximum deduction allowed is up to Rs 2 lakh per financial year.

If the property is not self-occupied (rented out or vacant), the entire interest paid can be claimed as a deduction without any upper limit.

Besides, Section 80C allows income tax deduction on the principal repayment. The maximum deduction allowed under this section, including other eligible investments and expenditures, is up to Rs. 1.5 lakh per financial year.

Budget 2024 Expectations LIVE: Interest subvention scheme for middle class?

According to Zee Business research, an interest subvention scheme for the middle class is likely to be announced in the July 23 Budget.

Budget 2024 Expectations LIVE: Real estate businesses hopeful that industry status be given to sector

A roadmap for the PMAY scheme as well as the government's affordable housing drive is likely to be in focus in the upcoming Budget, according to Zee Business research.

Besides, steps to promote Digital Infra and a sustained focus on data centres as well as smart cities is expected, according to the research. 

Budget 2024 Expectations LIVE: Can you expect changes in cigarette taxes?

No. No change is likely in the taxes applicable to sin products such as cigarettes, according to Zee Business research.

Budget 2024 Expectations LIVE: Skill upgradation, job creation & MSME to be in focus in upcoming Budget

According to Zee Business research, a higher allocation for the MGNREGA is set to boost the incomes of farmers in the country. 

MGNREGA or Mahatma Gandhi National Rural Employment Guarantee Act is a centrally sponsored scheme implemented by the Government of India.

Its main objective is to enhance the livelihood security of rural households by providing at least 100 days of guaranteed wage employment in a financial year to every rural household whose adult members volunteer to do unskilled manual work.

Budget 2024 Expectations LIVE: Tax sops likely to promote consumption 

According to Zee Business research, continuous infra spending and capex are expected to boost personal income as well as consumption in the country. 

Budget 2024 Expectations LIVE: Right budgetary support to help Electronic System Design & Manufacturing (ESDM) sector make significant contributions to India's economic growth & tech advancement, says ZETWERK's Josh Foulger

"As India approaches its annual Budget, the Electronic System Design and Manufacturing (ESDM) sector presents a compelling case for targeted policies to accelerate domestic manufacturing and reduce import dependence," says Josh Foulger, President- Consumer Electronics Business, ZETWERK.

"The government's past decade of support has demonstrably propelled the industry forward. Now, a strategic focus within the upcoming budget can further solidify this progress. A key proposal centers on the Production Linked Incentive (PLI) scheme. By prioritising value addition and backward integration, the PLI can incentivize domestic production of core ESDM components. This not only strengthens the domestic value chain but also fosters a more self-reliant India and paves the way for integration into the Global Value Chain, a key step towards achieving the vision of a 'Viksit Bharat'," says Foulger. 

Budget 2024 Expectations LIVE: Reduction in GST on video games to promote sustainability for game companies, says Hitwicket’s Kashyap Reddy

“India’s gaming sector, currently valued at around $3.1 billion, is expected to grow to $8.92 billion in the next five years. As the Budget session approaches, we are hopeful for a focus on the tech and gaming sectors,” says Kashyap Reddy, Co-founder and CEO, Hitwicket.

“The government’s support through increased investment in digital infrastructure, particularly internet connectivity, and recognising e-sports as a legitimate sport, will be crucial for growth,” Reddy adds. 

Budget 2024 Expectations LIVE: India’s healthcare sector needs increased investment & incentives to promote cost-effective, quality-centric care, says Cloudphysician’s Dr Dhruv Joshi

“India’s public spending on healthcare is much lower than the average for low and middle-income countries, leading to inadequate healthcare services. To ensure the long-term health and productivity of India, healthcare needs increased investment and incentives that promote cost-effective and quality-centric care,” says Dr Dhruv Joshi, Co-Founder and CEO (Global) of Cloudphysician. 

“There is a critical need for advanced medical infrastructure, targeted funding and support for health tech innovations. We anticipate measures that enhance healthcare accessibility and quality while driving technological advancements to improve patient outcomes across the nation,” adds Dr Joshi. 

Budget 2024 Expectations LIVE: Agriculture set to take centrestage in July 23 Budget

According to Zee Business research, nanourea is likely to be the focus of the upcoming budget.

In Interim Budget 2024, a sum of Rs 1.64 lakh crore was earmarked for fertiliser subsidies.

Budget 2024 Expectations LIVE: Exciting chance for India to take a bold step towards becoming a global AI powerhouse, says Vahan.ai Founder & CEO 

“Many nations, including the UK, Canada and Japan, and the EU have recently unveiled proposals for AI investment and safety policy frameworks. India must follow suit by outlining a National Artificial Intelligence Policy with a clear framework, goals, investment plans, and expenditure,” says Madhav Krishna, CEO and Founder of Vahan.ai.

“The government should prioritise investment in research and development, focusing on key areas like AI and Machine Learning. While India is the fourth largest investor in AI over the past five years, with total investments reaching $16 billion, we are significantly behind the US ($320 billion) and China ($120 billion),” says Krishna.

Budget 2024 Expectations LIVE: Maintenance, repair, overhaul industry hopeful for progressive policies to reduce disparities, simplify tax structure, foster growth, says Jeh Aerospace’s Venkatesh Mudragalla

“Last month, the Union Civil Aviation Ministry announced the implementation of a uniform IGST rate of 5 per cent on all aircraft and aircraft engine parts, marking a significant milestone for the domestic Maintenance, Repair, and Overhaul (MRO) industry. This move has been pivotal in addressing the previously varying GST rates of 5 per cent, 12 per cent, 18 per cent, and 28 per cent on aircraft components, along with the issues of inverted duty structure and GST accumulation in MRO accounts,” says Venkatesh Mudragalla, Co-founder, Jeh Aerospace.

“As we await the much anticipated Budget 2024, the industry is hopeful for similar progressive policies from the government that will reduce disparities, simplify the tax structure, and foster growth within the MRO sector. The Aerospace and Defence industry holds immense potential, and with supportive policies, India can become a global hub for A&D manufacturing,” Mudragalla adds. 

Budget 2024 Expectations LIVE: Budget presents a crucial opportunity to propel India's MSME sector onto global e-commerce stage, says Shiprocket CFO

“Building on initiatives like the Draft National e-Commerce Policy and Free Trade Agreements, the Budget can further streamline MSME participation. We particularly hope for measures that empower them to navigate the challenges of e-commerce exports,” says Tanmay Kumar, CFO, Shiprocket.

Budget 2024 Expectations LIVE: Budget presents a crucial opportunity to propel India's MSME sector onto global e-commerce stage, says Shiprocket CFO

“Building on initiatives like the Draft National e-Commerce Policy and Free Trade Agreements, the Budget can further streamline MSME participation. We particularly hope for measures that empower them to navigate the challenges of e-commerce exports,” says Tanmay Kumar, CFO, Shiprocket.

Budget 2024 Expectations LIVE: In MSMEs, key focus remains on increasing credit flow, says Indifi’s Alok Mittal

“One expected measure is the broader coverage of MSME credit guarantees - simply put, expanding the range of enterprises and credit types covered to include smaller ticket sizes and such. A larger ambit under the credit guarantee scheme encourages more lenders to service enterprises often branded as high-risk,” says Alok Mittal, Co-founder and MD of Indifi. 

“Another way to augment credit flow is through the introduction of policies that strengthens adoption of account aggregators by data contributors,” adds Mittal.

Budget 2024 Expectations LIVE: Agriculture set to take centrestage in July 23 Budget

According to Zee Business research, nanourea is likely to be the focus of the upcoming budget.

In Interim Budget 2024, a sum of Rs 1.64 lakh crore was earmarked for fertiliser subsidies.

Budget 2024 Expectations LIVE: Farming likely to remain in focus 

Will there be an increase in the outlay for the PM Kisan Samman Nidhi scheme?

What is PM Kisan Samman Nidhi Yojana?

The PM Kisan scheme is aimed at providing income support to small and marginal farmers across the country.

Under the scheme, eligible farmers receive direct income support of Rs 6,000 per year in three equal installments of Rs 2,000 each every four months.

The amount is directly transferred to the farmers' bank accounts.

Budget 2024 Expectations LIVE: Focus likely on promoting Indian brands to global scale

According to Zee Business research, the upcoming Budget is likely to lay emphasis on three main things:

• Setting up of food processing units
• Taking Indian brands to global markets
• Clearing various misconceptions regarding processed foods

Budget 2024 Expectations LIVE: Defence sector likely to remain in focus

The government has set an ambitious target of taking the country's defence-related production to Rs 3 lakh crore and exports to Rs 50,000 crore by 2028-29. 

Budget 2024 Expectations LIVE: Make in India for defence to remain in focus

According to Zee Business research, the government is likely to continue its Make in India push for the defence space.

It is also likely to push for modernisation in the sector.

Budget 2024 Expectations LIVE: Can you expect a higher allocation for defence?

According to Zee Business research, the Defence Ministry is likely to get an allocation of Rs 6.25 lakh crore in the upcoming Budget, as against Rs 5.9 lakh crore in FY24. 

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Budget 2024 Expectations LIVE: Emphasis likely on metro trains & high-speed rail projects

According to Zee Business research, the upcoming Budget is likely to lay special emphasis on metro trains and high-speed railway projects. 

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Budget 2024 Expectations LIVE: Interim Budget allocated Rs 600 crore to promote green hydrogen

The government plans to take the domestic renewable energy capacity to 500 GW by 2030. 

It also plans to enhance private sector participation through the PPP model. 

Budget 2024 Expectations LIVE: Can you expect steps to promote battery storage & wind energy?

According to Zee Business research, the upcoming Budget is likely to bring steps to promote battery storage and wind energy. 
 

Budget 2024 Expectations LIVE: Increased emphasis on solar energy?

According to Zee Business research, the upcoming Budget is likely to give emphasis to solar energy under the PM Suryoday Scheme. 

Budget 2024 Expectations LIVE: What to expect in power space

According to Zee Business research, the upcoming Budget is likely to have an increased allocation for the power sector.

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Budget 2024 Expectations LIVE: What you can expect in infrastructure sector

Here is a list of some of the major expectations in the domestic infrastructure sector in the upcoming Budget, according to Zee Business research:  

• National Infrastructure Pipeline & Gati Shakti to remain at the centrestage
• Increased focus on central initiative to provide tap water supply to every rural household
• Capital outlay for Clean Indian mission has been increased 28%

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Budget 2024 Expectations LIVE: What you can expect in infrastructure sector

Here is a list of some of the major expectations in the domestic infrastructure sector in the upcoming Budget, according to Zee Business research:  

• Government to remain focused on infrastructure
• Interim Budget 2024 set aside Rs 11.1 lakh crore capex for infra
• Road sector & NHAI got Rs 4.5 lakh crore 
• Urban development & smart cities got Rs 88,000 crore

Budget 2024 Expectations LIVE: What you can expect in infrastructure sector

Here is a list of some of the major expectations in the domestic infrastructure sector in the upcoming Budget, according to Zee Business research:  

• Government to remain focused on infrastructure
• Interim Budget 2024 set aside Rs 11.1 lakh crore capex for infra
• Road sector & NHAI got Rs 4.5 lakh crore 

Budget 2024 Expectations LIVE: From infra, defence to farming, healthcare, what you can expect in Finance Minister's Budget FY25

After five years, India once again awaits the presentation of a full-year Budget in the second half of the year, following a Vote on Account in February.

Expectations are high - once again - that the upcoming Budget will introduce several changes aimed at promoting growth and prosperity for both the economy and the common man.

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Budget 2024 Expectations LIVE: ANMI pitches for rationalisation of tax exemption in LTCG, STCG

Stock brokers' association ANMI has put forth some wishes for Finance Minister Nirmala Sitharaman to be fulfilled in the Union Budget 2024. One of the wishes includes rationalisation for tax exemption in Long Term Capital Gains (LTCG) and Short Term Capital Gains (STCG) U/S 111 A/112  etc. 

ANMI President Vinod Kumar Goyal has already submitted the association's recommendations to the CBDT Chairperson.

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Budget 2024 Expectations LIVE: ANMI bats for reintroduction of rebate for section 88E will result in a larger collection of STT/CTT 

With the Union Budget 2024 just around the corner, stock brokers' association ANMI has released a wishlist that will be beneficial for the Indian share market participants. 

The list includes the reintroduction of rebates under Section 88E for Securities Transaction Tax (STT) and Commodity Transaction Tax (CTT) paid.

ANMI President Vinod Kumar Goyal has already submitted association's recommendations to the CBDT Chairperson.

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Union Budget 2024 Expectations LIVE: What startups and their investors want 

Everyone has some expectations from Finance Minister Nirmala Sitharaman's record seventh Union Budget.

Similarly, entrepreneurs and investors from various industries have certain expectations. 

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Budget 2024 Expectations LIVE: What to expect in upcoming Budget? 

Expectations are high—once again—that the much-anticipated event may spell good news for everyone, be it economists, policymakers, industry leaders, corporates, analysts, as well as the common man.

Many experts have released their wishlists for the upcoming Budget. 

Budget 2024 Expectations LIVE: Finance Minister Nirmala Sitharaman all set to present Budget in Parliament on July 23  

Finance Minister Nirmala Sitharaman is set to create history on July 23 as she presents her seventh Union Budget in Parliament, surpassing Morarji Desai's record of most budget presentations.

Nirmala Sitharaman - who presented Interim Budget on February 1 - will reveal what's in store for the economy in the form of a full-year Budget for FY25.

This will be the first Union Budget of the Narendra Modi 3.0 government. 

Budget 2024 Expectations LIVE | Welcome to Zeebiz.com's blog on Budget expectations 

Follow this space to catch the latest updates on what the country wants from Finance Minister Nirmala Sitharaman's record seventh Union Budget, due on July 23.