Budget 2024: Impact on Income Tax, Indian Railways, income tax
Addressing last-mile connectivity issues in freight and logistics is crucial for significant revenue growth for Indian Railways
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The proposed increase in income tax exemption to Rs 5 lakh could potentially mean that individuals earning up to Rs 8.5 lakh annually may not have to pay income tax.
Experts suggest the standard deduction limit might also rise from Rs 50,000 to Rs 1,00,000 under the new tax regime, while highlighting that the standard deduction and rebate under section 87A would remain unchanged.
A US trade association focused on India has urged the government to include production-linked incentives for the media and entertainment sector in Budget 2024, stressing the importance of equal opportunities for both Indian and international businesses.
Indian Railways, heavily dependent on budget allocations for strategic planning and infrastructure development, aims for transformative growth over the next five years under Modi 3.0 leadership.
Improving passenger experience through upgraded infrastructure, faster connectivity, and enhanced services in the railway budget 2024 is expected to boost traffic amid competition from the aviation sector.
Addressing last-mile connectivity issues in freight and logistics is crucial for significant revenue growth for Indian Railways, especially with the expanding industrial sector and presence of international firms.
Budget announcements will be critical in determining funding and strategic priorities for transportation hubs within Indian Railways, influencing infrastructure modernization and service enhancements.
