What the travel, real estate, fintech, electric vehicle, and other industries need from FM

Live Updates on Budget 2024 Expectations: The last Budget of the current Narendra Modi government is scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1, 2024. This budget is anticipated to be an interim budget or a vote on account because it is being released ahead of the Lok Sabha elections year. The crucial query is: Will Finance Minister Nirmala Sitharaman announce major tax payer and salaried individual relief measures? There are many conjectures about possible changes to the income tax slab rates for FY 2025, which could affect both the current and the proposed income tax regimes.Will there be initiatives to make the new income tax system more enticing to taxpayers? The new income tax regime, which is currently the default tax structure, saw significant adjustments implemented by FM Sitharaman in the previous year's Budget. In addition, an unprecedented capital investment was declared in order to promote economic expansion. For real-time coverage of Budget 2024 expectations across multiple industries, subscribe to Mint Online.Live Budget 2024 Expectations: The fintech industry anticipates statements regarding rules, license procedures, and tax breaks. "Digital adoption and innovation in India are contingent upon a robust Fintech ecosystem." In the next budget, we would like to see policy initiatives related to regulations, licensing process simplification, and providing tax advantages for Fintech businesses. ToneTag CEO and founder Kumar Abhishek stated, "This will create a dynamic environment where cutting-edge solutions like AI and Voice can flourish and propel India's digital transformation.

"Expectations for the Budget in 2024 Live: According to Rupyy CFO, expect clearly defined action plans to advance digital payments and improve digital infrastructure. "We anticipate more detailed action plans to fortify digital infrastructure and encourage digital payments for greater financial inclusion from the interim budget. Stronger, longer-lasting, and more precisely defined incentives to promote the use of electric vehicles will also contribute to the expansion of the auto finance industry. It will be beneficial to include EV finance as a priority sector loan, which will reduce costs and boost uptake. Fintech companies are often looking for a GST subsidy in order to improve government benefits and financial services accessibility. We see development potential in the fintech market, which is predicted to reach INR 11.36 Trn by FY 2028.