In the upcoming Union Budget FY25, we expect the government's commitment to be more towards economic growth and social development. The fiscal deficit numbers are expected to be aligned with the numbers set around 4.9% to 5.1% of the GDP without compromising on the capital spends.
We expect some measures to be taken to make more liquidity available in the system. Tax relief measures, especially for the low-income group, may be implemented to increase their spending power and stimulate the economy.
Moreover, there may be an increase in standard deduction slabs for salaried taxpayers who are key to driving India's economic progress and achieving long-term prosperity. These sectors expect the government to prioritize skill development and training programs to bridge the talent gap and prepare the workforce for future challenges.
By addressing these areas, the budget can play a pivotal role in driving sustainable growth and technological advancement in India.
