Union Budget 2024 | Spending on agri, infra, skilling, and start-ups can create multiplier effect on economy, says Green Portfolio co-founder

'We have also seen an emphasis on technology solutions and AI which is forward looking,' Sharma added.

Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget 2024, highlighting the Modi govt 3.0’s priorities across multiple sectors.

The Budget identified the following areas as priorities: productivity and resilience in agriculture, employment & skilling, inclusive human resource development and social justice, manufacturing & services, urban development, energy security, and infrastructure.

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Here’s how industry stakeholders reacted:

Divam Sharma, CEO and Co-Founder, Green Portfolio, said, "The budget is in sync with the expectations of being a populist. There have been announcements for spreading prosperity among the larger population of the society. The spending on agriculture, infrastructure development, skilling, and startups has the potential to create a multiplier impact on the economy and can unveil the animal instincts of consumption participation coming from the broader population."

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"We have also seen an emphasis on technology solutions and AI which is forward looking. Fiscal deficit targets at 4.9 per cent look conservative considering the announcements. LTCG and STCG tax increases were in line with expectations. The markets might have some reaction to this, although this was in expected lines with the existing and potential gains financial assets offer and we expect the continuity of liquidity to the markets unlike in 2018. Angel Tax abolition is a welcome step as we plan to step up the startup ecosystem," Sharma added.

Union Budget 2024 LIVE | Making a record for any Finance Minister, Nirmala Sitharaman presented her 7th consecutive Union Budget on July 23, 2024 under the Modi 3.0 government. This Budget brought tax relief for the middle class, while focusing on jobs through skilling, incentivising employers. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.