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“Union Budget 2024 is very crucial to maintain India’s standing as the 3rd largest economy in the world. India contributes $3.7 trillion to the $100 trillion global economy and has the highest young population. To fully realize this potential, the government ought to support consumption. In line with the strong GST trend, we anticipate cutting the GST on LED TVs larger than 32 inches from 28% to 18% in Budget 2024. For the market to flourish, PLI schemes must be expanded to include smart TVs, refrigerators, and washing machines. Income tax slabs might be reevaluated to improve disposable income, which will promote spending and raise consumption in general.”
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