No Major Tax Changes in Interim Budget, Focus on Growth
Published On : 2024-02-01T15:04:58+0530 [ IST ] |
Author : Mayur_Tembhare
Reading Time : 1 mins
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FM Nirmala Sitharaman with Budget 2024
India / New Delhi :
In line with tradition, the Interim Budget presented by Finance Minister Nirmala Sitharaman today avoided any major changes in direct taxes.
With general elections due next year, the budget refrained from tinkering with personal income tax slabs or rates. The corporate tax rates also remain unchanged.
However, some tweaks in indirect taxes are likely. Experts say minor customs duty changes to boost domestic manufacturing are possible.
The budget speech indicated no major surprises on the tax front. The focus remains on boosting growth through higher public spending, especially in infrastructure and digital economy.
Tax revenue growth is projected at 9.8% next fiscal, based on continued economic momentum. Buoyant tax collections will support government's spending while limiting fiscal slippage.
With taxes stable, all eyes are now on budget's growth-oriented expenditure strategy and whether it can create jobs and reduce inequality
Source : Sansad TV
Tags : boost domestic manufacturing , no tax changes , higher public spending , indirect tax tweaks ,
Summary : Keeping with tradition, the Interim Budget avoids major direct tax changes and focuses on growth through higher infrastructure and digital economy spending, funded by buoyant tax receipts.
