Introduction:

As India awaits the unveiling of Budget 2024, a myriad of sectors is fervently anticipating Finance Minister Nirmala Sitharaman's announcements. Each sector, from agriculture to manufacturing, healthcare to education, carries its unique set of expectations, hoping for fiscal policies that will foster growth, innovation, and societal well-being. In this article, we delve into the live updates and expectations from key sectors, exploring their wishlists for the upcoming budget.

Technology and Startups:

• Expectations: Focus on emerging technologies like AI and Blockchain.

• Insights: Shwetank Verma, Co-Founder & Managing Partner at Leo Capital, emphasizes the need for initiatives promoting awareness, education, and ease of implementation for technologies like AI and Blockchain. Clarity on the regulatory stance of segments like Real-Money Gaming is also anticipated.

Manufacturing:

• Expectations: Investment in R&D for a 25-year vision.

• Insights: Amrit Acharya, CEO & Co-founder at Zetwerk, highlights the pivotal moment for Indian manufacturing, calling for a vision beyond 'Make in India.' He advocates for R&D investment, clean technologies, and robust skilling programs.

Real Estate:

• Expectations: Industry status, single-window clearance, and home loan tax rebates.

• Insights: Saransh Trehan, Managing Director at Trehan Group, emphasizes the need for industry status to streamline benefits such as interest subsidies. Additionally, calls for a single-window clearance system and home loan tax rebates to boost demand and sales.

Education:

• Expectations: Heavy investments in AI, progressive policy framework, and increased R&D expenditure.

• Insights: P J Narayanan, Director at IIIT Hyderabad, stresses the importance of AI-driven technology. He calls for strategic investments to fuel AI innovation, encouraging collaboration between academia, industry, NGOs, and government departments.

Insurance:

• Expectations: Exemption of insurance policies from GST and increased tax exemption limit under 80C.

• Insights: Ankit Agrawal, CEO and Co-Founder of InsuranceDekho, anticipates that exempting insurance policies from GST will reduce premiums, making insurance more affordable. He also calls for an increase in the tax exemption limit to promote savings and stimulate economic growth.

Conclusion:

As the countdown to Budget 2024 continues, these sector-specific expectations provide a comprehensive overview of the diverse needs and aspirations of various industries. The government's response to these expectations will play a crucial role in shaping the economic landscape, fostering innovation, and driving growth across sectors. The upcoming budget holds the promise of addressing these concerns and laying the groundwork for a resilient and thriving Indian economy in the years to come.