Budget 2024 Wishlist: India Inc Seeks Boost in Manufacturing, Infra & Tax Relief

Budget 2024 Expectations Live: Union Finance Minister Nirmala Sitharaman, who has already presented five annual budgets, will unveil the interim budget for the financial year 2024-25 in the Lok Sabha on February 1. It will be the last major economic document before the next general election. From agriculture, infrastructure and healthcare to education, finance and manufacturing – various sectors are eagerly awaiting Sitharaman's announcements and fiscal policies that will shape their respective landscapes.

On February 1, FM Sitharaman is expected to announce measures to boost manufacturing, allocate larger funds for infrastructure development and focus more on social sector schemes, while providing relief on the tax front.

Budget expectations : CII suggests PLIs for apparel, toys, footwear sectors
Industry body CII has made a case for expanding PLI in labour-intensive sectors such as garments, toys, footwear to boost job creation and sectors with large imports but domestic capacity such as capital goods, chemicals to reduce import dependency.

It has also suggested launching a 'National Mission for Advanced Manufacturing' to improve quality and productivity in manufacturing. "The mission should strengthen the ecosystem for building a technologically advanced manufacturing industry and accelerate the adoption of transformative technologies in the manufacturing sector," it said.

Budget 2024 Expectations : India Inc Awaits FM's February 1 Budget for Growth Boosting Measures
India Inc wants Finance Minister Nirmala Sitharaman to announce more measures in her interim budget to boost manufacturing, allocate bigger funds for infrastructure development and focus more on social sector schemes that provide relief on the tax front. The industry says it is imperative for the government to take steps to boost economic growth in the country as India moves towards becoming the third largest economy in the coming years.