Budget 2024: Will there be relief in income tax, abundant employment opportunity will be created? These big announcements can be made on a budget

Budget 2024:  Finance Minister Nirmala Sitharaman will present the first budget of Modi government 3.0 today on July 23. People have high expectations from this budget. The working class is expecting a big relief. The business class is also expecting a big announcement. How the budget will be will be known only after it is presented in Parliament. But the discussion about this is going on vigorously.

Questions are already being raised in this budget that what is the plan of NDA government led by PM Modi on developed India, economy, employment, green economy, new tax regime, standard deduction and PM Swanidhi scheme?

How is the budget of Modi-3.0 estimated to be?

• The budget will have a 5-year roadmap for Modi-3.0.
• Developed India strategy will be announced.
• Steps will be taken to boost the economy.
• New decisions are possible to increase employment.
• There will be no compromise in financial discipline.
• Emphasis may be placed on green economy.

Will there be relief in income tax?

• Expected changes in tax slabs in the new tax regime.
• Standard deduction limit expected to increase from Rs 50 thousand.
• Option of lower corporate tax on new factories and new investments.
• Startups in tier-2 and tier-3 cities can be more focused.
• An increase in the wage limit may be announced in the budget.
• The coverage of PM Swanidhi scheme may be increased.

A day before the Union Budget, the floor leaders of both houses of the NDA met on Monday. It was decided in the meeting that all the MPs should be present in the House on time. After the presentation of the budget, the key points of the budget will be shared with the colleagues. NDA parties have also been asked to nominate names for a list of general NDA spokespersons.

Finance Minister presented Economic Review 2023-24

According to sources, the JDU has named its spokesperson Rajeev Ranjan as the spokesperson. All the NDA parties have been asked to nominate two each for spokespersons. A day before the Budget, Finance Minister Nirmala Sitharaman presented the Economic Review for 2023-24 in the Lok Sabha. In which the accounts of the previous financial year were presented.

A time of 20 hours was fixed for the discussion

The Union Budget 2024-25 will be presented in the Lok Sabha on Tuesday. A time of 20 hours has been fixed for discussion in the House. Apart from the Union Budget, the BAC (Business Advisory Committee) has decided to hold discussions with the Ministries of Railways, Education, Health, MSME and Food Processing. This committee consists of leaders from different parties.

Congress has targeted the economic review presented by the government. Congress says that the country's economic condition is hopeless and this government has tried to present a 'rosy picture' that everything is fine. Jairam Ramesh said that it is expected that the budget presented on Tuesday will be realistic.

In the economic review presented by the government, the economic growth rate in the current financial year is estimated at 6.5 to 7.0 percent. With the need to create more jobs, it also supports more foreign direct investment (FDI) from China to boost exports.