The rate-setting panel of RBI on Wednesday started its three-day deliberations to decide the next monetary policy amid expectations of continuation of the current interest rate.
Reserve Bank Governor Shaktikanta Das will announce the decisions taken by the Monetary Policy Committee (MPC) on
India s Finance Minister, Nirmala Sitharaman, presented the Union Budget, positioning it as a foundation for developing India into a Viksit Bharat or a developed nation by 2047. The budget, totaling INR 47.66 lakh crore, spans various sectors with a focus on social justice, fiscal prudence, and fiscal deficit reduction. Experts view the budget as laying the groundwork for an empowered and inclusive India, echoing Prime Minister Narendra Modi s vision.
Sitharaman, who has already presented five annual Budgets, will be unveiling an interim Budget for fiscal 2024-25 on February 1 in the Lok Sabha. It will be the last major economic document before the next general elections.
Industry says that it is imperative for the government to take measures to boost economic growth in the country as India marches towards becoming the third largest economy in the coming years.
Industry body CII has suggested launch of National Mission for Advanced Manufacturing to enhance quality and productivity in manufacturing.
India Inc wants Finance Minister Nirmala Sitharaman to announce more measures in her interim Budget for fiscal 2024-25. Industry also calls for increased capital expenditure outlay. Sitharaman had indicated that it would be a vote-on-account. Expectations include reduced customs duty on medical device imports. The forthcoming budget is viewed as pivotal for Geographic Information Systems (GIS).