Highlights of the Budget 2024 Expectations: The last budget of the current Narendra Modi government is scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1, 2024. This budget is anticipated to be an interim budget or a vote on account because it is being released ahead of the Lok Sabha election year. The crucial query is: Will Finance Minister Nirmala Sitharaman announce major tax-payer and salaried individual relief measures? There are many conjectures about possible changes to the income tax slab rates for FY 2025, which could affect both the current and the proposed income tax regimes. Will there be initiatives to make the new income tax system more enticing to taxpayers? The new income tax regime, which is currently the default tax structure, saw significant adjustments implemented by FM Sitharaman in the previous year’s budget. In addition, an unprecedented capital investment was declared in order to promote economic expansion.
The 2024 budget highlights the demands of FM from tourism, real estate, fintech, EV, and other sectors.
