Budget 2023 Expectation- What to Expect from the Budget 2023-24?

Today, Union Finance Minister Nirmala Sitharaman will present the final full-fledged budget of Prime Minister Narendra Modi's second term. Sitharaman previously stated that the upcoming Union Budget will be in the spirit of previous budgets. According to experts, the Budget 2023-24 may not make any significant changes to the taxation system other than fine-tuning the existing direct and indirect taxation regimes. Here is what to expect from the budget 2023-24

The Finance Minister is expected to change income-tax slabs to benefit the middle class and increase spending on the poor through programmes like the rural job scheme, while also increasing financial incentives for domestic manufacturing.

Despite the fact that this is the final Budget before the general elections, the government may choose to unveil them in the interim budget to be presented next year before the April/May generation elections. Her recent comments about knowing the "pressures of the middle class" have fueled speculation that she will put money back into taxpayers' pockets. But how she does so remains to be seen.

Markets anticipate some rationalisation of capital gains tax, as well as some tinkering with import duties on certain items in Budget 2023. According to experts in the field, an increase in expenditure on healthcare infrastructure is a key expectation of the healthcare sector from the upcoming Budget 2023.

Real estate industry experts and stakeholders are also anticipating a number of reforms and initiatives that will help boost the real estate market and encourage investment in the sector in Budget 2023.