Budget 2024: 10 experts share what they expect from the coming Budget
Budget 2024: What will the market look for in Vote on Account? Mint collated the views of 10 experts on what they expect from the upcoming Budget. Here's what they said: The Budget will largely be a non-event as it will be a Vote on Account and hence largely a report card with the election commission not permitting any major announcements on account of the ensuing general elections. That being said the fiscal numbers are likely to be in line with the budget estimates.
Our understanding is that the final budget will be after the general election, and the February Budget will act as a provisional one. Consequently, it is premature to predict the exact nature of the Budget at this stage. However, we anticipate that the current government will hold the position and continue its progressive budget, aligning with the customary agenda of the reformist government.
The government’s fiscal deficit has increased due to pro-growth and subsidy initiatives taken during the pandemic period. Hence the intention will be to curb the deficit. At the same time, we expect growth to be on the agenda of the government.
We expect new initiatives to boost manufacturing in India and government expenditure on Infra to flourish. Also Read: Budget 2024: What measures can give further impetus to the economy? The government has already announced many measures such as production-linked incentives (PLI) to propel economic growth. We have seen robust growth in economic activity, increased tax collections and various macroeconomic indicators indicate better times ahead.
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