Meanwhile, the economic policies of the past decade have received positive feedback, with rating agency S&P upgrading India’s sovereign rating outlook to positive, and a potential further upgrade in the next 1-2 years if fiscal deficit targets are met.
In recent years, the government has concentrated on fiscal consolidation, aiming to decrease the fiscal deficit to 5.1 per cent of GDP by 2024-25 and further lower it to below 4.5 per cent by 2025-26.
Economists have noted that key priorities for Prime Minister Narendra Modi’s third term will include tackling agricultural challenges, job creation, sustaining capital expenditure, and enhancing revenue growth to maintain fiscal consolidation.
The story "Budget 2024: Will the govt provide income tax relief to salaried class?" has 589 words across 24 sentences, which will take approximately 3 - 5 minutes for the average person to read.
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