Union Budget 2024.
Credit: DH Photo
Finance Minister Nirmala Sitharaman will present the Union Budget on July 23. News has emerged that Prime Minister Narendra Modi might have a more troubled Budget this time, to accommodate the wishes of his alliance partners JD(U) chief Nitish Kumar and TDP supremo Chandrababu Naidu. However, it is more likely that the Budget will be a feel-good one, coming on the back of the Rs 2.11 lakh crore record dividend to the union government from the RBI.
Nitya Sharma, Founder and CEO, Simpl said, “This Union Budget should be focused on adding higher disposable incomes in the hands of consumers, driving consumption and reducing the cost of operations for businesses. Additionally, it should help create a level playing field for homegrown brands through simpler financing options, offering a boost to their manufacturing capabilities by providing sops to establish units within specialised manufacturing zones and further simplify the ease of doing business. These interventions, if applied, will help strengthen the fast-growing internet commerce sector in India, which includes e-commerce and quick commerce, and have a ripple effect on private investments, employment generation and increase the sector's contribution to the country's GDP”.