Expectation from Modi 3.0 Budget

Here are some key expectations from the Indian budgets:
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1. Infrastructure Development: Continued emphasis on infrastructure development, especially roads, railways, airports, ports, and energy projects may feature prominently in India’s upcoming budget, reflecting government’s commitment towards creating more job opportunities and fostering economic growth.
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2. Tax Reliefs & Reforms: The Indian Government might announce measures aimed at simplifying tax laws, reducing compliance costs, and promoting ease of doing business. These reforms aim to boost private investment and encourage entrepreneurship.
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3. Social Welfare Programs: Expansion of social welfare programs targeting poverty alleviation, healthcare, education, and financial inclusion would likely continue to receive attention in India's budget. Increased funding allocation toward these areas would help enhance quality of life among disadvantaged sections of society.
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4. Defense Expenditure: Maintaining strong defense spending levels is crucial for India's strategic interests. Increases in defense expenditure could reflect India’s ongoing border disputes with neighboring countries and regional security concerns.
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5. Digitalization Drive: Expectations around enhancing digital infrastructure and increasing adoption of digital technologies across various sectors including agriculture, healthcare, finance, etc., would pers as part of India’s broader agenda for technological advancement and modernization.
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6. Economic Recovery: Given India's economy slowed down amidst COVID-19 pandemic, measures to stimulate economic recovery and revival would likely figure prominently in July 2024 Budget, possibly through tax incentives, credit guarantees, and targeted stimulus packages.
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7. Agriculture Support: Agricultural sector plays a vital role in Indian economy, so continued initiatives focusing on farm subsidies, crop insurance schemes, rural infrastructure development, and farmer income support are expected.
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8. Education and Healthcare: Increasing allocations towards education and healthcare sectors indicate their importance for human resource development and improving the overall quality of life for citizens.
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The upcoming union budget for 2024-25 is expected to introduce comprehensive incentives and regulatory changes aimed at promoting ESG compliance among Indian MSMEs and other entities, fostering sustainability through financial support, incentives, and technological advancements