Union Budget 2024: Expectations and Proposals from Various Sectors

Ahead of the Union Budget 2024-25, several industry leaders outline their expectations and proposals for sectors including MSMEs, real estate, healthcare, and consumer durables. Key suggestions include doubling MUDRA loan limits, enhancing housing loan tax rebates, and investing in R&D for pharma and consumer durables.

As the Union Budget 2024-25 approaches, Finance Minister Nirmala Sitharaman faces heightened expectations from various sectors. Industry leaders propose key changes to bolster MSMEs, with calls to double the loan limit under the MUDRA Yojana and expand credit guarantee covers.

Mohit Jain, Managing Director of Krisumi Corporation, emphasized the need for increased tax exemption limits on home loans in the real estate sector, while Amit Prasad of SatNav Technologies highlighted the importance of formal funding processes for MSMEs focused on IPR. Meanwhile, the consumer durables industry anticipates a reduction in import duties and increased R&D investments.

The healthcare sector seeks expanded coverage under Ayushman Bharat and enhanced public healthcare expenditure, while the insurance industry calls for tax reforms to benefit annuity investments and retirement savings. The proposals reflect a unified desire for targeted fiscal policies to spur growth across multiple domains.

(With inputs from agencies.)