Union Minister Nirmala Sitharaman’s Budget for fiscal 2024-25 should prioritize: Amending section 80C of the Income Tax Act to increase the limit on insurance premium payments, encouraging wider adoption of insurance products among individuals. Targeted tax relief for lower-income taxpayers will boost consumer spending. Expanding PLI schemes in sectors like textiles, handicrafts, electronics, auto, and semiconductors to stimulate employment and industrial growth. Investing in digital infrastructure and skill development to enhance MSMEs’ productivity and global competitiveness. Promoting contract farming, upgrading infrastructure, and diversifying into high-value crops to increase agricultural productivity and income for farmers. These measures will definitely drive economic growth, create jobs, and foster inclusive development across sectors.
Dr Vijaykumar HK
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