The Union Budget 2024 in India is expected to focus on a variety of sectors with a strong emphasis on growth and inclusion. Here are some key expectations:

1. Tax Reforms and Reliefs: There are calls for tax relief on interest earnings from deposits, home loans, and rationalizing the taxation of Employee Stock Ownership Plans (ESOPs). Simplifying tax compliance processes and lowering tax rates for startups are also anticipated to support entrepreneurial growth.
2. Support for Key Industries: The fintech and electric vehicle (EV) sectors are looking for fiscal incentives, regulatory clarity, and tax exemptions to promote innovation and adoption. This includes lower GST rates for EV services and support for digital financial services in rural areas.
3. Infrastructure Investment: Significant investments are expected in infrastructure sectors such as roads, railways, water, renewable energy, digital education, and healthcare. These investments aim to boost growth and can be funded through asset monetization and divestments.
4. Job Creation and Skill Development: Emphasis on job creation through initiatives like Make in India, Skill India Mission, and Digital India. Expanding apprenticeship programs and enhancing skill development are seen as crucial for matching the workforce with industry needs.
5. Healthcare and Education: Enhancing budget allocations for digital health infrastructure, telemedicine, and making healthcare training more affordable are key expectations. Additionally, there are calls for incentives for educational institutions to diversify their programs to adapt to changing industry needs.
6. Sustainability and Green Finance: The budget is expected to support green mobility initiatives, such as the FAME-III scheme for EVs, and promote green finance to balance energy security and transition needs.

Overall, the Union Budget 2024 is expected to focus on maintaining fiscal prudence while addressing key areas such as infrastructure development, tax reforms, support for key industries, job creation, healthcare, education, and sustainability.

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