Budget 2024 is in the primary headlines of the business news category. Everyone is curious to know the possible measures to be taken by the government in the financial Budget 2024. finance Minister Nirmala Sitharaman may take some measures to boost consumption demand. Here are the complete details that you need to know.
Based on statements by experts, to boost the consumption demand and rural economy government needs to put money in the hands of people by reducing the tax slabs and increasing the standard deduction. Reduction in the Income-tax slab can also increase the consumption demand.
However, there are several other schemes that the government offers to put money into rural area populations through MANREGA and other schemes. If the government going to bring the new scheme, it will seek permission from the parliament.
Now discussing some facts and data regarding this, the Index of Industrial Production (IIP) data for output of consumer durable decreased to 0.6 per cent, against 5.3 per cent of the previous financial term last year. While on the other side, non durable consumer output has surged to 5.6 per cent between April to November 2023. It was on a favourable base as the output had declined 2.2 per cent in the April-November period of 2022.
There are several other industries on which the Indian government is focusing nowadays. Green energy is one of the major industries that will get huge benefits from this budget. Do let us know if you want the detailed report on which industry will grow after the Budget 2024, we will cover the industries to get huge benefit