Budget 2024, illustrates the roadmap of “Viksit Bharat” which means advanced India. The budget theme focuses on four main factors, such as employment, skilling, MSME’s (Micro Small, and Medium Enterprise), and Middle Class. The business community is optimistic about the forward-looking budget focusing on abolishing the ANGEL tax for all classes of investment. This aids in reducing the compliance burden and ultimately promotes entrepreneurial enthusiasm resulting in proposing tax relief to citizens.
The steps taken towards employment in skilling produce 3 schemes that will change the trajectory of employment, especially for women and students. This programme includes first-timers, job creation in manufacturing, and support to employers predicted to benefit a large number of youths. Additionally, simplifying and ratification of GST tax structure and the endeavor to expand it to the remaining sectors.
To sum up, the budget signals advantages to reshape India’s economic and business growth, with a vigorous framework to support the broadening scope of innovation in technology adoption, strategic investments and resource allocation, financial planning, and risk management.
