Middle-class Tax Relief Could Boost Consumption in Union Budget 2024-25, Says Marico CEO

Marico Ltd MD & CEO Saugata Gupta emphasizes tax relief for middle-income and salaried individuals in the upcoming Union Budget to enhance purchasing power and consumption patterns. He highlights the importance of rural development, government support for the agricultural sector, and private-sector investments in infrastructure for economic growth.

Marico Ltd MD & CEO Saugata Gupta believes that tax relief for middle-class and salaried individuals in the upcoming Union Budget will enhance purchasing power and boost consumption patterns.

Gupta underscores the need for continued investment in rural development and agricultural activities to bolster rural income.

He emphasizes the importance of government support during the monsoon period for stabilizing rural economies and ensuring farmers have essential resources.

Highlighting the government’s commitment to employment and support measures, Gupta points to the extension of the free food grain scheme till 2028 as a step toward sustaining rural consumption and containing inflation.

Gupta also advocates for initiatives encouraging private-sector investments in infrastructure, which could create jobs, boost productivity, and contribute to economic growth.

He is optimistic that Budget 2024-25 will set the stage for a resilient economic recovery and empower businesses.

Finance Minister Nirmala Sitharaman is set to present the full budget for 2024-25 on July 23.