Friday, April 12, 2024
Outlook.com
Outlook India
Outlook Business

Budget 2024

While the interim budget 2024 just indicated what might come in the full budget in July, some major announcements on education and innovation have been received well by the edtech sector

The extension of tax benefits for start-ups, investments by sovereign wealth or pension funds, and exemptions for certain IFSC units till March 31, 2025, got a big thumbs up from industry players

The government will expand the electric vehicle ecosystem to support charging infra, and e-buses for public transport networks will be encouraged

While mindful that this is the interim budget, industry stakeholders hope that it will have announcements that foster financial inclusion and help build a robust ecosystem for start-ups

Stakeholders expect the government to use the tech stack and digital infrastructure to make affordable healthcare accessible in the country's remote corners.

Industry stakeholders are pinning their hopes at various fiscal policies that can strengthen the sector, including a reduction in the GST tax slab

Experts anticipate adjustments in the income tax exemption limits, encouragement for women entrepreneurs, the implementation of a stable long-term taxation policy, and measures to stimulate both consumption and savings in the upcoming interim budget.

Industry experts believe that a robust India stack comprising UPI riding on economical and accessible internet, as well as democratising ONDC, could accelerate the online transition of offline retail businesses.

Investors and experts expect more sector-specific sops and big-ticket funding to provide impetus to the sector that is expected to drive the next wave of revolution in India’s technological journey