Budget 2024 Expectations Live Updates: Recycling industry body calls for zero duty on aluminium scrap imports
Budget 2024 Expectations Live Updates: India, currently the world’s fifth-largest economy, is anticipated to climb to the third rank in the coming years. FM Sitharaman’s Budget 2024 is expected to outline a roadmap for sustained economic growth.
Past trends suggest that the Modi government will continue to emphasize high capital expenditure, particularly on infrastructure, to drive GDP growth. As in previous years, salaried taxpayers are hoping for significant income tax relief, including changes in the new income tax regime and adjustments to the standard deduction.Shashank Paranjape, Managing Director of Paranjape Schemes (Construction) Ltd, stated, "Among the other measures taken to boost the real estate markets, especially in non-metro markets, we believe further deductions in interest on home loans will create a conducive environment for all the real estate developers.
An increase in deductions will allow potential home buyers to plan their budgets. Such positive changes in home loan interest will uplift market sentiment and increase sales volume as potential buyers will have more resources.
This, in turn, means improved liquidity and cash flow, helping developers complete existing projects ahead of schedule. Overall, there will be sustainable growth and stability in the real estate market."Budget 2024 Expectations Live Updates: In the run-up to the budget, the Material Recycling Association of India (MRAI) has urged the government to eliminate the import duty on aluminium scrap to promote sustainability within the industry.MRAI highlights that recycling aluminium scrap results in significantly lower carbon emissions, producing only 0.3 million tonnes (MT) of CO2 per tonne of aluminium, compared to 14 tonnes of CO2
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