Budget 2024: There can be an announcement on standard deduction in the budget, reducing fiscal deficit will also be the target
The Modi government is preparing to present its full budget. For this, the round of meetings is going on, while Finance Minister Sitharaman will present her 7th budget which will be a history in itself. By the way, everyone has some expectations about the budget. In such a situation, let's try to know what can happen in the budget this time.
Target to reduce fiscal deficit
According to the information, the central government has set a target of bringing down the fiscal deficit to below 4.5 percent of GDP by 2025-26 in this budget. GDP is estimated to be 5.1 percent in the financial year 2024-25.
Announcements can be made on the standard deduction
According to media reports, this time a big announcement can be made on standard deduction in the budget. Its limit can be increased. The government can increase it to Rs 1 lakh. Let us tell you that the standard deduction of Rs 40,000 per annum was reintroduced in the Budget 2018.
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