The Union Budget FY24 includes measures such as increased capital expenditure, infrastructure development, green economy initiatives, and strengthening of financial markets, expected to promote job creation and spur economic growth. Additionally, measures for the MSME sector are expected to aid small enterprises by reducing the cost of funds. The revision of tax slabs under the New Personal Income Tax Regime is predicted to boost consumption, providing impetus to economic growth. Easier KYC norms, expansion of DigiLocker services, and a focus on digitisation and last-mile connectivity are also expected to strengthen financial markets. Despite potential risks, the Indian economy is confident thanks to a history of macroeconomic stability.
