Budget 2024: From Healthcare To MSMEs, Here's What India Expects From Finance Minister Nirmala Sitharaman

Budget 2024: The budget session for fiscal year 2024-25 commenced with President Droupadi Murmu's address on Wednesday. It is going to be an interim budget as this is an election year and the full budget will be presented post elections. Union Finance Minister Nirmala Sitharaman will present the budget on February 1, Thursday. This will be the sixth time when Nirmala Sithraman will share the government's financial policies and plans for the people of India. With five annual Budgets and one interim, Nirmala Sitharaman has leveled the feat of delivering six budgets by former Prime Minister Morarji Desai.

The union budget creates huge impacts on millions of lives engaged in the business and service sectors. But before the budget, here's what people of India engaged in various sectors expect from the Government:

Budget For Healthcare: People engaged in the healthcare sectors expect Finance Minister Nirmala Sitharamn to allot special packages for building better healthcare infrastructure and wellness centers, ensuring free essential drugs and diagnostics, and boosting telemedicine services.

Budget For rapidly growing technology: The world technology is rapidly growing and India is adopting every positive move immediately. Being a big service user, our country needs to focus on building its own technology. If the government wants the country to be ahead in the race for better technology, then the right investments must be made in Research and development.

Increase Tax Rebate Slabs: Increasing the limits of tax slabs will surely support the common man and more money will go into their pockets. As per the current tax slabs that have been decided by the Government of India, taxpayers pay 5% to 30% of their income. However, tax paid up to Rs 5 lakhs annually is rebated and people would be expecting the limit of Rs 5 lakh to be extended further.

Boost Consumption: Cutting down on taxes will boost the purchase power of the people and encourage them to spend more which will indirectly boost the economy of the country. Many people wait for the union budget before buying homes or doing any major activity.

Support to MSMEs: People engaged with Micro, Small, and Medium Enterprises expect the momentum of financial support to continue. It will be essential that funding support to credit guarantee schemes to support the MSMEs is further strengthened with assurance of consistency and continuation.