Interim Budget 2024: Six key sectors to look out for

India News Image credits: Pexels

1. National Pension System (NPS) boost:

The government might enhance the attractiveness of the National Pension System (NPS) by extending tax concessions on contributions and withdrawals. Image credits: Pexels

2. Taxation parity for pension funds:

The Pension Fund Regulatory and Development Authority (PFRDA) seeks tax parity with the Employees' Provident Fund Office (EPFO). Image credits: Pexels

3. Agricultural credit expansion:

To support the agricultural sector, the government is likely to declare a substantial increase in the agricultural credit target. Image credits: Pexels

4. PLI scheme expansion for manufacturing:

The Production-Linked Incentive (PLI) scheme could see an expansion to include additional sectors such as garments, jewelry, and handicrafts. Image credits: Pexels

5. Tax considerations for wealthy farmers:

The objective is to introduce fairness in the taxation structure and ensure a balanced approach to income tax policies. Image credits: Pexels

6. Corporate tax rate extension for manufacturing units:

This extension, expected until March 31, 2025, aims to encourage private investments and promote growth in the manufacturing sector. Image credits: Pexels Find Next One