Budget 2024: Can NDA deliver for aam aadmi?

Budget 2024: Can NDA Deliver for Aam Ami?

As India eagerly anticipates upcoming union budget announcement, nation stands at a pivotal juncture. recent elections delivered a surprising jolt to ruling party, setting stage for a high-stakes budget presentation— 11th from Modi cabinet and sixth from Finance Minister Nirmala Sitharaman. What was expected to be a landslide victory turned into a coalition conundrum, leaving BJP to navigate choppy waters of governance with new partners. But as y say, "Modi hai toh mumkin hai."

This budget is poised to be a fascinating blend of fiscal prudence and populist measures, driven by necessity to dress multiple pressing concerns. Let’s dive into key areas of focus and expectations of populace:

Uplifting ‘Aam Ami’: Common Man's Expectation

Despite low inflation, unemployment remains a thorny issue that opposition has exploited. perception is that ruling party has neglected average citizen. budget must do following:

Job Creation Initiatives: Launch large-scale employment schemes to tackle unemployment. "Abki Baar, Rozgar Yojana Paar!"

Agricultural Support: Avoid taxing farmers and provide subsidies to support agricultural sector. Introduce measures to enhance farmers' income and safeguard m against crop price fluctuations.

Tax Relief for Middle Class: Introduce tax cuts or rebates to put more disposable income in hands of middle class, reby boosting consumer spending. "Middle Class ki Baat, Budget ke Saath!"

Coalition Compromises: Navigating New Alliances

After a dece of dominance, BJP is now part of a coalition with TDP and JDU, each with its own set of demands. budget must do following:

Special Status for Bihar: dress calls for special status for Bihar, ensuring it receives necessary support for development.

Special Package for Andhra Presh: Allocate a special package for Andhra Presh to support its infrastructure and development needs. "Abki Baar, Vikas Har Dwaar!"

Infrastructure Projects: Allocate funds for state-specific infrastructure projects to satisfy coalition partners.

Political Harmony: Ensure that coalition demands are met without compromising broer national agenda.

Economic Acceleration: Keeping Growth Momentum

India's economy is a bright spot globally, with growth rates outpacing those of G7 nations. budget must do following:

Boost Capital Expenditure: Increase investment in infrastructure and capital projects to sustain high growth rates.

Attract Foreign Investment: Create an investment-friendly environment to draw foreign capital.

Maintain Fiscal Prudence: Balance spending and revenue generation to avoid fiscal slippage.

What People Don’t Want from Budget

While expectations are high, re are several areas where public hopes for no changes:

No Increase in Capital Gains Tax: Avoid raising both long-term and short-term capital gains taxes.

No New Tax Slabs: Refrain from introducing new tax slabs or methods that increase financial burden on taxpayers.

Simplify Tax Filing: Avoid new, cumbersome methods for filing taxes or claiming relief that would create ditional labor for individuals and businesses.

Conclusion: Balancing Act for a Prosperous Future

budget must do following:

• Prioritise job creation and provide tax relief for middle class.
• Satisfy coalition partners’ demands to ensure a stable government.
• Continue investing in infrastructure to maintain economic growth.
• Provide meaningful support to farmers to enhance ir income and protect m from price volatility.
• dress special status for Bihar and allocate a special package for Andhra Presh.

With GST collections soaring, it’s time for government to reward public, not just party. "Abki Baar, Budget at Par!" whole of India, including stock market, is eagerly awaiting to hear good news—and, more importantly, no b news. By striking right balance, Modi ministration can ensure a prosperous future for all Indians.