Saugata Gupta, MD and CEO of Marico Ltd, says that the tax relief to the middle class and salaried people in the upcoming budget will not only increase the purchasing power of the people, but it will also prove to be decisive in promoting consumption. He said that the focus in the budget for the financial year 2024-25 should be on rural development and for this, investment in infrastructure and employment is needed.
Budget 2024: Saugata Gupta, MD and CEO of Marico Ltd, says that the tax relief to the middle class and salaried people in the upcoming budget will not only increase the purchasing power of the people, but it will also prove to be decisive in promoting consumption. He said that the focus should be on rural development in the budget for the financial year 2024-25 and for this investment in infrastructure and employment is needed. Apart from this, promoting agricultural activities will also increase income in rural areas.
Gupta said, ‘We hope that the policies presented in the budget will be aimed at promoting inclusive and sustainable development.’ Regarding his expectations from the budget, he said, ‘Tax relief to the middle class and salaried people will not only increase the purchasing power of the people, but it will also play an important role in increasing the consumption pattern.’ He said that the support of the government during the monsoon is necessary to provide stability to the rural economy and ensure the availability of necessary resources to the farmers.
He said that the government is committed to providing employment opportunities and measures like extending the deadline of the free grain distribution program to 2028 are being taken. He underlined the ongoing efforts to maintain rural consumption, improve the quality of life and curb inflation and said that the government is making every effort in this direction.
Gupta said, ‘We expect steps to promote private sector investment in infrastructure in the budget. This will not only create jobs but also boost productivity.’ He also said that digital activities and entrepreneurship will boost employment and economic growth. Apart from this, people will also benefit from making policies to promote innovation and other things.
Gupta said, ‘We hope that Budget 2024-25 will pave the way for economic recovery, business empowerment and make a significant contribution to India’s development journey.’ Finance Minister Nirmala Sitharaman will present the full-time budget for the financial year 2024-25 on July 23.
