By codingstreets Feb 02, 2024
The government said that the Budget was presented with a focus on economic policies that foster growth, facilitate inclusive development, improve productivity, and create opportunities for various sections.
Social justice as an effective governance model; Focus on the poor, youth, women, and the Annadata (farmers); Focus on infrastructure; Use of technology to improve productivity and High power committee for challenges arising from demographic challenges.
India has had three consecutive years of 7% GDP growth and is the fastest growing economy in G20.
GDP is Government, Development and Performance. We have delivered on Development and have better managed the economy. We are bringing down the fiscal deficit despite very challenging times.
Capex from the government will continue, it is important to continue it.
India, Middle East, European Corridor (IMEC) project to be taken forward despite disturbances in Red Sea.
The withdrawal of 1.1 crore outstanding small direct tax demands for certain years will cost less than ₹3,500 crore to the exchequer.
No extension of lower tax rate to new manufacturing units coming into place after March 2024.
Do not have a fixed target for disinvestment in FY25.
We are not only aligning with the fiscal consolidation path given earlier, but we are also bettering it.
The relevance of the target to reduce the Centre’s debt-to-GDP ratio to 40% was set before COVID-19 period and now has to be examined.