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Union Budget 2024

The Union Budget has laid the foundation for promoting India's growth while maintaining fiscal prudence, solidifying India's growing credibility in the global economy.

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Dun & Bradstreet Budget Manthan 2024: Impact Analysis

The report presents a comprehensive impact analysis of the Union Budget 2024-25, which covers the overall macro-economy and around 21 major sectors with ratings assigned to them based on the likely impact of the announcements on each individual sector. This can be a useful guide for businesses and decision makers to plan their activities for the current fiscal year. We sincerely hope you enjoy reading this report and find it informative and enriching. Download your copy now!

What The Budget Manthan 2024: Impact Analysis Report Covers

Budget at a glance

Budget profile

Macroeconomic Perspective

Sectoral Impact

Expenditure of Ministries and Departments

Outlay of major schemes

Receipts & Expenditure

Key economic indicators

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Union Budget 2024-25: Takeaways

  • The budget builds on prior growth momentum with a focus on fiscal prudence, productivity enhancement, and employment generation. It aims to push long-term growth prospects to over 7%.
  • The budget plans to reduce the fiscal deficit to 4.9% of GDP in FY25, with a goal of reaching 3% by FY29, promoting sustainable growth.
  • Increased adoption of technology and digitalization aims to formalize MSMEs' access to finance and markets. The abolition of the angel tax is expected to improve the credit environment for MSMEs and startups.
  • Continued emphasis on infrastructure investment in collaboration with states and the private sector. Reduction of corporate tax rate on foreign companies from 40% to 35% to boost foreign investments.
  • Emphasizes generating employment, promoting R&D, and incentivizing skill development in the private sector. It includes provisions for internship opportunities to bridge the skill gap among youth.
  • Focus on modernizing the tax structure, aligning financial services, and developing the cooperative sector. The budget aims for a fiscal deficit of 4.5% by FY26 and a reduction in the debt-to-GDP ratio.
  • Improved credit access for MSMEs, with an increase in MUDRA loans limit to ₹2 million, expansion of SIDBI's reach, and easing of turnover requirements for TReDS.
  • Focus on renewable energy projects, with initiatives like the PM Surya Ghar Muft Bijli Yojana for rooftop solar panels and increased spending on solar power grids.
  • Introduction of a taxonomy for climate finance to enhance the availability of capital for climate adaptation and mitigation investments.
  • The budget addresses challenges highlighted in the Economic Survey, such as skill development, job creation, and infrastructure development, with a roadmap to a developed India by 2047.
  • Comprehensive reforms in the tax regime to simplify the duty structure, stimulate trade, and reduce the compliance burden. Abolition of the angel tax and reduction in the corporate tax rate for foreign companies are notable measures.
  • Revenue receipts are expected to grow by 14.7%, driven by an 11.0% increase in net tax receipts. High tax buoyancy indicates strong momentum in tax collection.
  • Continued commitment to capital expenditure with an allocation of ₹11 trillion to support infrastructure development and economic growth.