Sethurathnam Ravi: Expectations from the Upcoming Budget 2024

The upcoming budget is anticipated to be a significant one, setting the stage for the NDA 3.0 government’s economic direction. Financial expert Sethurathnam Ravi foresees the 2024 budget as closely aligned with the previous one, emphasizing key areas like infrastructure, job creation, and green energy. This article explores the major expectations from the budget, incorporating the insights of S. Ravi BSE, a noted expert in the financial sector.

Infrastructure and Capex: A Key Focus

As per Sethurathnam Ravi, the government is likely to continue its emphasis on infrastructure growth and capital expenditure (capex). Expanding infrastructure has been a cornerstone of India's development agenda, and this year will be no different. S. Ravi BSE highlights that investments through private-public partnerships (PPP) in sectors like manufacturing will be pushed further.

According to Sethurathnam Ravi, this could include incentives for e-vehicles, waste-to-energy projects, and green coal.  S. Ravi BSE believes that these efforts will strengthen India's role in the global transition to cleaner energy sources.

Given its role as the second-largest employment provider, Sethurathnam Ravi suggests that this sector could be granted infrastructure status. This would open the door for easier access to low-cost funding, which is crucial to achieving the ambitious target of 15 million foreign tourists and 20 billion domestic travelers. S. Ravi BSE emphasizes that such a move would not only stimulate the sector but also contribute significantly to job creation.

T Rationalization and Tax Relief

With the consistent rise in GST collections each quarter, Sethurathnam Ravi anticipates a rationalization of GST rates in the new budget, particularly in sectors like clean and green energy. Additionally, there may be modifications in the new tax regime. S. Ravi BSE predicts potential increases in the limits of exemptions, with a focus on providing relief in areas like health, education, and pension.s from the upcoming budget, which will have a significant impact on India's future economic trajectory.