Page 4 - Udget Expectations News Today

According to Christian de Guzman of Moodys, while the interim Budget firmly conveyed Indias commitment to its fiscal consolidation, the governments ability to meet its targets could be restricted due to a variety of factors

For a period of 50 years, the Union government will provide Rs. 75,000 crore at zero interest to states in order to assist their reform efforts towards achieving the goal of

Speaking to reporters after the presentation of the interim Budget, Finance Secretary TV Somanathan also said Indias debt-to-GDP ratio is one of the lowest in the G20.

The demand for metals such as aluminum, zinc, steel, and copper are set to soar as these materials form the bedrock of infrastructure development.

The budget will need to focus on fiscal consolidation while maintaining capex and welfare spending

Economists polled by Moneycontrol see the Centre continuing to spend heavily on investments in Budget 2024, although the increase in the capital expenditure allocation in 2024-25 may be far lower than in recent years.

At 10.5 percent, the expected GDP growth assumption for 2024-25 in the interim Budget would be well above the statistics ministrys estimate of 8.9 percent for the current financial year.

Following the customary all-party meeting on the eve the a session, Parliamentary Affairs Minister Pralhad Joshi said the government sought the cooperation of all the parties for the short session.

For capital gains tax, the holding period may differ from 12 months to 36 months, while the tax rate may range from 10 percent to a nominal tax rate.

The release of fiscal deficit data for April-December 2023 comes a day before Finance Minister Nirmala Sitharaman tables the interim Budget for 2024-25 in Parliament.