Budget 2024: Government Expected to Unveil Sops for Middle Class and Rural Segments, Says Rupen Rajguru of Julius Baer India
New Delhi, January 31, 2024(Budget 2024)
As anticipation builds for the upcoming Interim Budget, Rupen Rajguru, Head of Equity Investments and Strategy at Julius Baer India, foresees a focus on fiscal balance improvements and increased social spending. In an exclusive interview with Mint, he shared insights into the expectations surrounding the budget, highlighting potential measures for the middle class and rural segments.
Interim Budget 2024 Expectations:
Given that 2024 is an election year, the Interim Budget or Vote on Account is slated for February, with a comprehensive Budget anticipated in July post the new government’s formation. Rajguru emphasizes that being an interim authorization, the Interim Budget might not witness major tax or policy reforms.
Fiscal Balances and Social Spending:(Budget 2024)
Rajguru anticipates better fiscal balances in the Interim Budget, creating room for augmented social spending. The government’s inclination towards announcing incentives for the middle class, such as promoting a new income tax regime and focusing on housing, is also expected.