Union Budget 2024 / These sectors may be the focus of the budget today, big announcements may be made

Union Budget 2024: Union Finance Minister Nirmala Sitharaman will present the first budget of Modi 3.0 in Parliament today i.e. on 23 July. All kinds of speculations are being made about this budget. From the common man to students, farmers, taxpayers and industrialists, there are a lot of expectations from this budget. On the very first day of the budget session, the government has made it clear that this time the budget will focus on presenting India as a developed nation by 2047.

It is believed that this budget will be a road map to make India a developed nation by 2047. Which will be a blueprint to make India a five trillion dollar economy. There may be big announcements for some sectors in the budget. In such a situation, let us know which sectors will be focused on in the first full budget of Modi 3.0…

The focus can be on these

Focus on employment

The focus may be on employment in the budget. The Economic Survey presented yesterday also said that to meet the needs of the growing workforce, the Indian economy needs to create an average of about 78.5 lakh jobs annually in the non-agricultural sector by 2030. This means that if the growth of the economy is to be maintained, then an average of 78 lakh people will have to be given employment opportunities every year, so that there will be no reduction in demand and supply and the balance will be maintained.

Apart from this, the government can take policy initiatives to create employment opportunities in various sectors. There are chances of big announcements in the budget regarding manufacturing, infrastructure and MSME. The government can focus on preparing the youth for employment by providing skill training to them. Measures can be taken to promote startups and entrepreneurship. Economic reforms can be implemented to promote ease of doing business and reduce regulatory burden.

Focus can remain on infrastructure and agriculture

It is believed that the government's focus in the budget can be on capital expenditure. That is, the government can make a special announcement on infrastructure and agriculture. It is expected that the Modi government can also make some big announcement about the farmers' honor fund, PM Kisan Yojana in this year's budget. During this time, measures can be announced to accelerate the growth rate of the agricultural sector.

PM Housing Fund can increase

The Finance Minister can also announce further increase in funds for the PM Housing Scheme in this budget. Some increase is possible in the 6000 given to farmers annually under the PM Kisan Yojana. The President has also given indications about income tax in his address. In such a situation, it is expected that Finance Minister Nirmala Sitharaman can also give some relief to the middle class in income tax in this year's budget. In the new tax regime, the income tax slab can be increased from 3 lakh to 5 lakh.

Focus can be on the middle class

PM Modi had said in his address on June 7 that the middle class is the driver of the country's development. Their well-being and convenience is our priority. Modi had said that we will make a policy in the direction of how the middle class can save some money and how their life can be made easier. This indicates that the government can give some relief to the middle class in the budget.

These big decisions can be taken

• PM Kisan Samman Nidhi can be increased.
• Measures can be announced to accelerate the growth rate of the agricultural sector.
• An announcement can be made regarding the PM Awas Yojana in rural areas.
• The focus can be on women, youth, farmers and the poor.
• In the new tax system, the limit of income tax exemption slab can be increased to Rs 5 lakh.
• Emphasis can be laid on increasing consumption.
• New concessions are also possible on taking housing loans.
• Expenditure on infrastructure can be increased.
• Special attention can be given to MSME.
• The situation regarding OPS can be clarified. The committee has submitted its report on this.
• New incentives can also be announced regarding EV i.e. electric vehicle.
• Green energy can be promoted.
• The PLI scheme can be expanded to other areas.
• Clarity can be given on the labor code regarding labor reforms.
• The government can start Digital Agriculture Mission.
• The loan limit on Kisan Credit Card can be increased.
• The limit can be increased from 3 lakh to 5 lakh.
• Loan without any security can be increased from 160000 to 2,60,000
• Funding for National Oil Seed Mission
• Fund for modernization of Agri Mandis
• The government will promote diversification of crops
• Additional budget can be given for PM-AASHA scheme.
• Announcement of complete purchase of tur, urad, and masoor dal is possible
• Income tax payers can get relief
• Standard deduction can be increased.
• There can be a change in tax slab up to 12 lakh.
• Changes in NPS possible for government employees
• NPS can be made more attractive.