Sitharaman, who has already presented five annual Budgets, will be unveiling an interim Budget for fiscal 2024-25 on February 1 in the Lok Sabha. It will be the last major economic document before the next general elections.
Industry says that it is imperative for the government to take measures to boost economic growth in the country as India marches towards becoming the third largest economy in the coming years.
Industry body CII has suggested launch of National Mission for Advanced Manufacturing to enhance quality and productivity in manufacturing.
India Inc wants Finance Minister Nirmala Sitharaman to announce more measures in her interim Budget for fiscal 2024-25. Industry also calls for increased capital expenditure outlay. Sitharaman had indicated that it would be a vote-on-account. Expectations include reduced customs duty on medical device imports. The forthcoming budget is viewed as pivotal for Geographic Information Systems (GIS).
This is in accordance with the Indian Space Policy 2023 that talks about enabling easy access for government entities and non-government entities to space-based remote sensing data collected through public expenditure.
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