Budget 2023-24: The country’s Finance Minister Nirmala Sitharaman is going to present the General Budget 2023-24 on Wednesday (February 1). Industrialists as well as common people have a lot of expectations from the Narendra Modi government from this budget because the Lok Sabha elections are to be held in the year 2024 and this will be the last full budget of the Narendra Modi 2.0 government. Like the last two years, this time’s budget will also be paperless.
Amid rising expectations of the public regarding Budget 2023, top industrialists of the country have also put forward their suggestions for Union Finance Minister Nirmala Sitharaman. Ashok Chhajer, CMD of Arihant Infrastructure, told ANI that the government should focus on reducing home loan rates. He said, “The government should reduce the home loan rates. The affordable housing segment, which has been capped at Rs 45 lakh, should be changed to Rs 60-75 lakh.”
At the same time, Niranjan Hiranandani, MD, Hiranandani Group, said that the budget should focus on roads, railways, ports, airports and national highways as well as slum rehabilitation schemes and investments. He said that if multimodal transport becomes successful in the next 2-3 years, then the logistics cost for everything in the country can be reduced by 3-4 percent.
Health sector expectations
The people of health sector also have expectations from this budget. One of his hopes is that the expenditure on healthcare infrastructure should be increased. Keeping in mind the Corona epidemic, the budget 2021-2022 and 2022-2023 focused on the healthcare sector of the country. During the Budget 2022-2023, the Center in its budget announced the launch of an open platform for the National Digital Health Ecosystem.
Besides this, Sitharaman also highlighted the launch of the National Tele Mental Health Program which involved creating a network of 23 telecentres for the mental well-being of individuals and families. According to Dr. Ashutosh Raghuvanshi, CEO, Fortis Healthcare, India is one of the most preferred destinations globally for medical tourism and hence, there is a strategic need to develop MVT as an organized sector to encourage medical value travel in India. Support needs to increase.
At the same time, the Indian Medical Association (IMA) has recently presented suggestions to the Government of India for the budget. The IMA has presented a total of twelve suggestions for the budget.
Industry experts also have expectations
Industry experts and stakeholders also have expectations from the budget 2023-24. In fact, they are also expecting several reforms and initiatives from the government which can help in boosting the real estate market and encourage investment in the sector. Real estate developers and investors are looking forward to tax breaks and other financial incentives that can help bring down the cost of developing new projects and make them more profitable. It can also encourage people to invest more in this sector and help boost the economy.
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