Kochi: Finance Minister Nirmala Sitharaman will present the interim budget on February 1 to announce the political stand by integrating development with people’s welfare as the general elections are on the doorstep. Finance experts say that the second Narendra Modi government’s final budget, which will be presented in the most favorable situation for the ruling BJP, will have proposals that take into account the succession of the administration. Agricultural and rural. From allocating more money for infrastructure development, there will be comprehensive proposals to make India a new manufacturing hub.
Welfare share of farmer women may be doubled
In order to ensure maximum women’s vote in the general elections, the announcement to increase the welfare allowance for landowning farmer women from the existing Rs.6,000 to Rs.12,000 is highly awaited. There will also be various proposals in the budget that will give impetus to women empowerment.
Food and fertilizer subsidies may increase
The budget may also propose to increase food and fertilizer subsidies with an aim to increase productivity in the agricultural and rural sectors and bring more money to the market. The Modi government had earlier decided to extend the free food and grain scheme for another five years with the aim of poverty-free India.
Additional amount for education and health sectors
It is expected that there will be many announcements aimed at comprehensive changes in the field of higher education in the interim budget. In line with the new education policy of the central government, the finance minister may also propose benefits including tax exemptions to improve the investment situation in the country as part of attracting the world’s leading foreign universities. The Modi government aims to make India a global superpower in the field of education. It has been a long-standing demand of the student community to subsidize interest on education loans.
Tax exemptions for green fuels
It is expected to increase tax breaks and incentives for the manufacturing sector of green, solar, wind and electric vehicles as part of policies to maximize the use of renewable fuels.
There will be no change in personal tax rates
Fiscal experts point out that personal and corporate tax rates are unlikely to change in the interim budget as general elections are around the corner. The Election Commission is empowered to make major changes in tax rates in interim budgets.
2024-01-29 20:10:10
#Interim #Budget #February #Finance #Minister #combine #growth #prosperity
