Set for July 23, Budget 2024 aims to address critical needs across various sectors. Industries are seeking specific measures to enhance growth, sustainability, and efficiency. Here's a concise look at their key requirements.
The Department of Industrial Policy and Promotion (DIPP) and ASSOCHAM suggest the need for new policies and incentives to boost industrial growth. This includes support for technological upgrades and tax concessions to reduce production costs.
The Ministry of Agriculture emphasizes the need for new schemes to improve irrigation facilities. Loan waiver schemes for farmers are crucial to alleviate financial burdens, along with subsidies on fertilizers and seeds to support agricultural productivity.
The Confederation of Indian Industry (CII) and ASSOCHAM advocate for tax reforms to increase efficiency and profitability in the service sector. They also highlight the need for better infrastructure and the promotion of digitalization in services.
The Ministry of Health stresses the expansion of healthcare facilities in rural areas, improving access to health insurance, and increasing funding for medical research to drive innovation and improve healthcare services.
The National Association of Software and Service Companies (NASSCOM) recommends incentives for research and development, measures to strengthen cyber security, and support for startups through new schemes and grants to foster technological advancements.
The Reserve Bank of India (RBI) and ASSOCHAM highlight the need for new banking policies, loan facilities for small and medium businesses, and improved access to financial services to promote financial inclusion and economic stability.