The 1st of February is very important for our country. Every year on 1 February, the annual budget is presented by the Finance Minister. Along with what became cheaper and what became expensive in the budget, there are constant talks about income tax, education and railways. The country's budget has the power to change the government. The year 2024 is going to be very important in terms of the budget. Not only will this be the last budget of the Modi government before the elections, but we can also get a glimpse of the election agenda in this budget.

General elections are to be held in India in April-May 2024 and hence this will not be a full budget. An interim budget will also be presented by the government after the elections.

Still, let's talk about whether we can think of any major changes regarding the budget or not.

What is the opinion of industry experts regarding the budget?

We have spoken to some industry experts who have told us about their budget expectations.

The upcoming budget should be related to Ayurveda

PrashantVastard, founder and managing director of Guduchi Ayurveda, says, "Being associated with the Ayurveda industry, we hope that a lot of attention will be paid to Ayurveda in this budget. From Ayush product registration to Ayurvedic medicine research expenditure, the budget will have different provisions. There should be provision."

There is a need for a change in GST rates

According to Simranjit Singh, Director of CYK Hospitalities, the restaurant industry is facing more burden. The GST rate on raw materials is very high due to which growth is affected. The government should also pay attention to the licensing process of bars and restaurants.

There should be some big announcements for the travel industry

MadhavanMenon, Executive Chairman of Thomas Cook India Ltd, says that 5% of India's GDP comes from tourism and travel. This is very important for the economy. If the government is aiming to become a 1 trillion dollar economy by 2047, then planning will have to be done now to boost the travel industry. Tax for inbound tourism will have to be reduced, and provision for LTA will have to be made in the office. There will be standardization of foreign travel packages.

What is the opinion of middle-class people regarding the budget?

For industry experts, the budget is very different, but if we consider the middle class, then the nature of the budget has changed a lot. We talked to some people and tried to find what they wanted from the budget.

Things of daily use should be affordable.

Businessman NeerajBhatnagar says that this budget should be according to the needs of the middle class. The rates of electronic items and luxury items may be increased, but there should be a reduction in the prices of groceries and everyday items. Both railway tickets and petrol prices are very important for the common man, whose fare should be reduced. Middle-class people will be more affected by these things.

There should be a rich budget for the education sector

Srishti Dixit, who is teaching in a college as an assistant professor, says that there should be some important schemes for the education sector in the budget. More and more children are now trying to concentrate on professional and skill development courses. People are looking at many career options from becoming an influencer to being a social educator. In such a situation, the demand for professional courses has started increasing and there should be provisions in the budget for such courses.

Attention should be given to education and the environment

Student Sakshi says that this time the budget should be such that everyone can develop. Attention should be given to both the education sector and the environment. The reach of government and private educational institutions should increase. As far as the budget is concerned, if it is made keeping the students in mind, then the problem of unemployment can be reduced to a great extent.

Income tax slabs should increase

Mohammad Rizwan, a software engineer by profession, says that there should be more relaxation in the income tax slab. The highest income tax in the country is paid by the middle class only and by giving relief in this, the middle class people will get an opportunity for growth. Their planning for daily expenses will be better and savings will also be possible.