Union Budget 2024-25: Extension of concessional tax regime for India’s manufacturing sector

BUDGET EXPECTATIONS: India's upcoming Union Budget for FY 2024-25 is anticipated to extend the 15% concessional tax rate for new manufacturing companies, boosting investor confidence in the sector. This measure aligns with India's "Make in India" initiative, promoting self-reliance and economic growth. The move aims to sustain GDP growth, projected at 6.9% in 2024, and position India as a competitive global manufacturing hub.